HomeMy WebLinkAboutO-0537 - Sewage collection system betterment fund (Superseded by 664)ORDINANCE NO.~5~3_?___
An ordinance providing for the .establishment of a Cumulative
Reserve Fund for Sewage Collection System Betterments.
THE COUNCIL OF THE CITY OF MARYSVILLE DO ORDAIN AS FOLLOWS:
1stPassedbytheCityCounciloftheCityofMarysvillethis_---'..:....:..__
day of March,1965.
Section 1:There is hereby created a Cumulative Reserve Fund for
Sewage CollectJ.on System Betterments for the purposes of receiving _
funds contributed by individuals or corporations and for the pur-
pose of paying for construction of extensions and betterments of
the sewage collection system.Contributions to said fund may also
be made from the Water and Sewer Revenue Fund as matching funds.for
construction purposes.S.aid fund may be referred to .by the short
title "Sewage Collection.Reserve.lf .
Section :2:It is the intent of this ordinance that all fund con-
tributions for the following purposes shall be deposited in the
lfSewage Collection Reserve:"
A.Connection charges,other than charges for installation
of service connections)established to recover a portion of
the costs of sewers constructed by the City to which no con-
tribution was made by.the benefited property~
B.Construction charges,paid in advance ofc6nstruction for
the purpose of financing construction of sewers by'the City,
including charges for Temporary Connections ~'..
C.Monthly constructioh char~es forthe purpose of repaying
the cost of gewers constructe by the City under the
"Split-Rate lf method of financi ng ,
Section }:That moneys shall be placed in said fund from time to
time as directed by ordinance of the City Council,and as may be
.provided for in the annual budget.
Section 4:That expenditures from said f'unds may be made by 'the
City Councilon"lyfor the purposes for which tbefund was created.
Section.5:That the moneys in said fund shall never be expended
for any pur~ose than that specified without an approving vote by
the majority of the electors of the City in a general or special
election voting on a proposal submitted by the electors to allow
other specific uses to be made of such fund.
Section 6:That this ordinance shall take effect and be in for.~
from and after i tspassage,.approval and five days following its
publication as required by law.