HomeMy WebLinkAboutO-0572 - Establishes Cumulative Reserve Fund for Storm Drain Betterment (Repealed by 1307)ORDINANCE NO •.572
An ordinance providing for the establishment of a Cumulative Reserve
Fund for Storm Drain Betterments.
THE CITY COUNCIL OF THE CITY OF MARYSVILLE DO ORDAIN AS FOLLOWS:
SECTION 1:There is hereby created a Cumulative Reserve Fund for
Storm Drain Betterments for the purposes of receiving funds contributed
by individuals or corporations and for the purpose of paying for
construction of extensions.and bett~rments of and connections to the
storm drainage system.Contributions to said fund may also be made
from the City Street Fund as matching funds for construction purposes.
Said fund may be referred to by the short.title ~Storm Drain Reserve.II
SECTION 2:It is the intent of this ordinance that all fund contribu-
tions for the following purposes shall be deposited in the "Storm
Drain Reserve":
A.Connection charges,other than charges for installation of
service connections,established to recover a portion of the
costs of drains constructed by the City to which no contribution
was made by the benefited property.
B.Construction char~es,paid in advance of construction for
the purpose of financ1ng construction of drains by the City.
C.Service installation fees,paid in advance of construction
for the purpose of financing construction of connections be-
tween the public storm drain and private drainage facilities.
SECTION 3:Moneys may 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:Expenditures from said funds may be made by the City
Council only for the purposes for which the fund was created.
SECTION 5:The moneys in said fund shall never be expended for any
purpose other 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 City of Marysville to allow
other specific uses to be made of such fund.
SECTION 6:This ordinance shall take effect and be in force from and
after its passage,approval and five days follOWing its publication as
required by law.
Passed by the City Council of the City of lJiarysville,this 12t11
day of Decemher ,1966.
ATTEST:
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APPROVED AS TO FORM:i.e :/7/;';(.-I {,I)///'/'lL I
City Attorney
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