HomeMy Public PortalAboutORD15551 BILL NO. 2016-29
SPONSORED BY COUNCILMAN Henry
ORDINANCE NO. / C 55I
AN ORDINANCE AMENDING CHAPTER 29 (SEWERS AND SEWAGE DISPOSAL),
SEC. 29-132 (DISBURSAL OF FUNDS), OF THE CODE OF THE CITY OF
JEFFERSON, MISSOURI, TO REFLECT ACTUAL SEWER BOND COVENANTS AND
CITY FINANCIAL POLICIES.
NOW, THEREFORE, BE IT ENACTED BY THE COUNCIL OF THE CITY OF
JEFFERSON, MISSOURI, AS FOLLOWS:
Section 1. Chapter 29 (Sewage and Sewage Disposal) Sec. 29-132 (Disbursal of
Funds), of the Code of the City of Jefferson, Missouri, is amended as follows:
Sec.29-132. Disbursal of funds.
All revenues derived from the operation of the sewerage system, as collected, shall be deposited in the'
sewer revenue fund, and shall be held, handled, and disbursed in accordance with the terms of any bond
ordinance for issuance of sewage revenue bonds authorized and issued by the city. An amount equal to the
requirement of any active sewerage revenue bond covenants shall be deposited in the replacement
account as prescribed in the bond ordinance and shall be used only for replacement. The amount
held for replacement shall be considered separate and apart from any other fiscal reserve required
by any other financial policy established by the City. . • . . . ..' -••-. . . ' _
replacement.
Section 2. This Ordinance shall be in full force and effect from and after the date
of its passage and approval.
Passed /c 2-04 Approved: - . /(01 / ?o f(
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Presiding Officer Mayor Carrie Tergin
ATTEST: - , APPROVED AS TO FORM:
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=;ty Clea < - City Coun
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Editor's note:.'Deieted language shown thus.Added language shown thus.