There is hereby created in the treasury of the city of Glendora an enterprise fund to be known as the water fund.
(Prior code § 2.69; Ord. 1750 § 1(part), 2002)
Expenditures from the water fund shall be made only for the administration, operation, and maintenance of the city of Glendora domestic water system and its capacity to serve the users thereof.
(Ord. 1750 § 1, 2002)
All water service charges and miscellaneous water related charges not otherwise designated shall be credited to the water fund.
(Ord. 1750 § 1, 2002)
There is hereby established within the water fund a reserve account for the acquisition and replacement of capital equipment used by the water department in administration, operation and maintenance of the domestic water system. Such expenditures include, but are not limited to, the acquisition and replacement of vehicles, computer systems and communications equipment assigned to the water department.
The capital equipment reserve shall be funded in amounts derived through charging equipment users an annual fee sufficient to recover the depreciation cost of equipment acquired by the fund based on the anticipated useful life of the equipment.
(Ord. 1750 § 1, 2002)
Expenditures from the water fund may be authorized by the city council by the adoption of the water fund budget or by supplemental appropriation from the fund.
(Prior code § 2.70; Ord. 1750 § 1, 2002)