[1]
Editor's Note: For statutory provisions on the water redemption fund, see RCW 35.89.040 et seq.; for provisions on the revenue bond fund for public utilities generally, see RCW 35.67.120 et seq.; for provisions on funding or refunding bonds, see RCW 35.92.110 et seq.
It is the policy of the city that the income from reserve funds established by ordinances authorizing the issuance of revenue bonds be accumulated and used for the redemption of bonds authorized by the ordinance creating such reserve fund. This policy is adopted because of the difficulty, in view of the city's limited resources, of providing for the redemption of the bonds last becoming due, particularly when the final payment is much larger than the payments required in prior years.
(Ord. 160 § 1, 1973)