Sec. 2-386.2. - Access and appropriations.
(a) Access. The city shall be authorized to access the water/sewer fund operation and maintenance reserve as may be necessary in order to pay water/sewer obligations if the mayor certifies that adverse economic conditions or a public emergency has occurred that impacts the operations and maintenance of the water/sewer fund such that immediate action is required.
(b) Appropriations. After the occurrence of the events set forth in subsection (a), city council shall, by ordinance, appropriate funds from the water/sewer fund operation and maintenance reserve to other annual operating budget accounts in order to meet water/sewer operating fund expenses at the end of any fiscal year, if funds are not available in the unrestricted fund balance.
(c) Exemptions. For purposes of this section, the term "appropriations" shall not include the following:
(1) Pension liability and related expense adjustments;
(2) Debt principal payments;
(3) The annual true-up provided for in the agreement between the city and county concerning wastewater treatment; and
(4) Reductions in net position due to changes in net investments in capital assets.
(Ord. No. 18-045, § 3, 10-4-18; Ord. No. 22-038, § 3, 9-15-22, eff. 6-30-22)
