Chapter 3.12
WATERWORKS FUNDS

Sections:

3.12.010    General bonds construction fund – Created – Purpose.

3.12.020    Revenue bonds construction fund – Created – Purpose.

3.12.030    Water fund – Created – Purpose.

3.12.010 General bonds construction fund – Created – Purpose.

There is created in the city treasury a fund to be known as the waterworks general bonds construction fund, into which fund shall be deposited moneys received by the city from the sale to the state of its general waterworks bonds in the principal sum of $16,000, authorized to be issued pursuant to the provisions of Ordinance No. 32 and Ordinance No. 33 of the city. The moneys in the fund shall be disbursed from time to time upon warrants duly drawn thereon for the purpose of constructing a municipal waterworks system, pursuant to the system or plan therefor specified and adopted by Ordinance No. 32 of the city. (Ord. 35 § 1, 1927).

3.12.020 Revenue bonds construction fund – Created – Purpose.

There is created in the city treasury a fund to be known as the waterworks revenue bonds construction fund, into which fund shall be deposited any moneys received from the sale of the $17,000 water revenue bonds, authorized to be issued under and pursuant to the provisions of Ordinance No. 32 of the city. Warrants may be drawn on the fund for the purpose of constructing a municipal waterworks system, pursuant to the system or plan therefor specified and adopted by Ordinance No. 32 of the city. (Ord. 35 § 2, 1927).

3.12.030 Water fund – Created – Purpose.

There is created in the city treasury a fund to be known as the water fund, into which fund shall be deposited all revenues derived from the sale of water from the municipal waterworks system of the city. From time to time, warrants shall be drawn on the fund in favor of the Soap Lake waterworks revenue bonds fund, created by Ordinance No. 32 for the purpose of paying the principal and the interest of the $17,000 waterworks revenue bonds issued under the ordinance. Any moneys in the water fund not required to meet the pledge and obligations of the city under the provisions of Ordinance No. 32 may be expended by warrants properly drawn on the water fund for the purpose of maintaining and operating the municipal waterworks system. (Ord. 35 § 3, 1927).