§ 1-5-7. Sanitation depreciation fund; establishment and use.

(a)

There is hereby established the sanitation depreciation fund for the sanitation department of the city.

(b)

The purpose of said fund is to provide monies for the replacement of the street sweeper and other sanitation-related capital items at some future date as city council feels appropriate.

(c)

City council in fiscal years 1992 and 1993 budgeted and transferred funds from the sanitation reserve fund to be held for replacement of the street sweeper when necessary.

(d)

Funds may be budgeted and transferred to the depreciation fund from the sanitation reserve fund for the current year and future years, and additionally city council may appropriate revenues as necessary for this fund.

(e)

All expenditures from the sanitation depreciation fund created hereby shall be approved by the city council.

(f)

Interest earned on monies within the sanitation depreciation fund will remain in the sanitation depreciation fund from the time the fund is established.

(Ord. No. 93-02-22(D), 2/8/93)