HomeMy Public PortalAbout00575 O R D I N A N C E NO. 575
AN ORDINANCE, creating an administrative special fund
to be known as the Equipment Depreciation Fund and transferring
thereto from the General Fund the balance held in Account No. 8-
3443, with an emergency clause.
WHEREAS, certain general revenue has heretofore been
allocated to an account styled Equipment Depreciation Fund
(Account No. 8-3443), and
WHEREAS, it is the sense of the Board of Trustees that
an orderly program for the replacement of equipment will be
facilitated by the maintenance of a special administrative fund
for such purpose,
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF TRUSTEES
OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT:
Section One. Hereby created is a special
administrative fund to be known as the "Equipment Depreciation
Fund".
Section Two. The Equipment Depreciation Fund is hereby
established by transfer thereto from the General Fund a sum equal
to the balance in the account styled Equipment Depreciation Fund
(Account No. 8-3443) as of the end of the current fiscal year
ending June 30, 1961, and just prior to the closing of accounts
for such year. The Director of Finance and the Secretary-
Treasurer are hereby authorized and directed so to establish such
fund.
Section Three. The necessity of creating and
establishing the Equipment Depreciation Fund prior to the opening
of the fiscal year beginning July 1, 1961 constitutes an emergency
within the meaning of the Plan, and this ordinance accordingly
shall take effect immediately upon its enactment. The foregoing Ordinance was adopted June 15, 1961.