Chapter 3.76
SEWER BOND REDEMPTION FUND – SEWER BOND RESERVE FUND

Sections:

3.76.010    Created – Deposits – Expenditures.

3.76.010 Created – Deposits – Expenditures.

A. There are hereby created and established two new funds, one to be known as the “sewer bond redemption fund” and the second to be known as the “sewer bond reserve fund.” The clerk-treasurer of the city of Tonasket is hereby authorized and directed to set up and establish said funds and to deposit into said accounts such funds as are directed by the city council and to invest into said funds in the best interest of the city.

B. Currently there is established a bond redemption fund and a bond reserve fund, into which have been deposited both water and sewer funds. The clerk-treasurer is hereby authorized and directed to separate said funds utilizing the previously existing funds for the water bond redemption and the water bond reserve funds and to utilize the accounts established hereby for the sewer bond redemption and the sewer bond reserves. (Ord. 671 §§ 1, 2, 2009).