HomeMy WebLinkAbout1959-06-03; City Council; 7021; Sewer fund & permissible uses-
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HAYES Lk HAYES
STTORNEYS A? LAW
HAYES BUILDING a7 MISSION AVENUE
~CEANSIDE. CALIF.
ORDINANCE NO. 7021
AN ORDINANCE OF TRE CITY OF CARESBAD, CALIFOWU, WLATZNG TO THE SmR FUNP AND THE PEWISSIBLE USES THEREOF.
The People of the City of Carlsbad, California, DO ORDAIN
as follows:
SECTION 1. Sewer Fund, the Permissible Uses thereof.
All funds and moneys received from the collection of sewer service
charges shall be deposited with the City Treasurer of the City of
Carlsbad, who shall establish and maintain a separate fund and
account to be known as the "ewer FundPf.
Out of the Sewer Ftand, to the extent that moneys are avail-
able therefor, there shall be paid only the following in the order
set forth:
(a) The necessary and reasonable maintenance and oper-
--
ation costs of said sewer system.
(b) The principal of and interest on bonds issued
for sewer purposes.
(c) Any payments specifically authorized or required
by the City Cous~cil in any ordinance or resolution pro-
viding for the issuance of said bonds.
(d) Amounts, as the City Council may direct, for the
-- payment of the costs of extensions and improvements of or
additions to said sewer system or for any other sewer pur-
pose.
For the purpose of the administration of the Sewer Fund
necessary and desirable sub funds and/or accounts may be used to
show receipts, expenditures and balances.
EXHIBIT '%*'