Chapter 3.24
WATER FUND1
Sections:
3.24.010 Created—Contents—Transfers—Records—Reports.
3.24.020 Use of reserve funds.
3.24.010 Created—Contents—Transfers—Records—Reports.
The city treasurer shall set up a special fund to be known as the "Menlo Park municipal water fund," into which shall be paid all revenues and receipts of the municipal water department, and from which shall be paid and disbursed all costs, outlays, and obligations of the water department. No transfers from the fund shall be made to any other city or municipal fund except:
(1) To reimburse advances which may have been made to the water fund from such city or municipal fund;
(2) To pay for services, facilities or supplies provided the municipal water department from general city funds; and
(3) To pay a fee in the nature of a franchise fee to the general fund of the city in an amount and on such terms and conditions as the City Council shall fix by resolution. The books and records of the department shall be kept in accordance with general accounting practice as applies to utilities, and a detailed report shall be made monthly, with respect to the activities of the water department, to the City Council. (Ord. 495 § 1, 1969: Prior code § 29.5).
3.24.020 Use of reserve funds.
Reserve funds of the municipal water fund may be used for the acquisition of existing water systems operating within the city, provided, however, that such funds, so used for acquisition, will be repaid to, and reimbursement effected thereby, to the municipal water fund over a reasonable period of time from revenues of the water system so acquired. The City Council shall determine what is reasonable in connection with the time and manner of such reimbursement. (Prior code § 29.6).
For regulations governing the water department, see Chapter 2.48; for regulations governing water and sewer permits, see Chapter 5.60.