HomeMy WebLinkAboutO-0538 - Water transmission and distribution systems betterment fund (Superseded by 664)ORDI~ANCE NO 538
An OJ;"diaanee providing for the establishment of a Cumulative
Reserve Fund for Water Transmission arid DistributionSyst.ms
Betterments.
THE COUJlYCIL.OF THE CITY OF t!ARYSV1LLE DO ORDAIN AS FOLLO\:JS:
Sectio"n.1:There is hereby created a Cumulativ:e·Reserve Fund for
t-Jater Transmission and Distribution Systems Betterments :for the
purpose of Re~eiving funds contributed by individuals or corpor-
ations and for the purpose of paying for construction of G"t<ansions
.and betterments of the t1'atel"transmissiqn and d1.stributiorisystems.
Contributions to said fund may.~lso be made ·from the (later and
Sewer Revenue Fund as matcbing funds for·construction purposes.
Said fund may be referred toby.the short title "11ate>r Distribution
ReservE'le ll
Section 2:It is the intent of'this ordinance that all fund con-
tributions for the follOWing purposes shall be deposited in 1I~1ater
Dist~ibutiDn Reserve.1I
A~Connection Charges,other tpan charges for installation
of service.connections.,establisbed to ;r-Gcover a portion of j
the costs of mains constructed by the Cil.ty to t-rh:!.ch no 00111=
tribution t'Jas made by the benefited p r ope r-cy ,..
B.Construction charges,paid in ~dvanceof construction for
the purposes of financing construction of'mains by the City,
including charges.for Temporary Connections.
c.Monthlyconstructionchqrges.for the purpose of repaying
the co.st of water mairis constructed by the City under the
IISplit-Rate"method"of financing.
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Section 3: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 ~n the annual budget •
.Section 4:That expenditures from said funds may 1,e made by the
City Council only for tbe ~urpopes for which the fund ,~as created •
.Section II That the moneys in said fund.shall never be ecpended
:for any purpose than the specified without an approv'ing·vote by
..the majority of the electors of the City in a general or special
election voting on a »z-op os a L submitted by the electors to..a Ll.ow
other·specific uses :to be madebf such fund.
Section 6:That this ordinance sball take effect and be in ·force
from and ~fter its·passage.app.rovaland five days.following its
publication as required by lal'!~
PasfJed by the City C·ouncil of the City of 11arysville this 1st
day of March.~965.
Attest:
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.f Cd'i'~...I"U.r=-£{p ~
Ci ty Clerk 6---..
Approved as to form·;.
.'7-{/~'...-z....[<../-.i)A.-~~~
City Attorney
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