(a)   In accordance with K.S.A. 12-825d(c), there is to be established January 1, 2017 as a separate fund of the City of Goessel to be designated as the “WATER RESERVE FUND”.

(b)   The Water Reserve Fund shall account for resources transferred to the Water Reserve Fund from other operating funds of the City to reserve for future use. Water Reserve Funds will be used as approved by the City Council to support certain water materials and services, capital outlay, and debt service expenses as necessary and appropriate.

(c)   The Water Reserve Fund shall receive $3,000 per year.

(d)   Moneys in the Water Reserve Fund shall be invested in accordance with the provisions of K.S.A 12-1667 and amendments thereto, with the earnings credited to such fund.

(Ord. 267; Code 2016)

(a)   In accordance with K.S.A. 12-631o, there is to be established January 1, 2017 as a separate fund of the City of Goessel to be designated as the “SEWER RESERVE FUND”.

(b)   The Sewer Reserve Fund shall account for resources transferred to the Sewer Reserve Fund from other operating funds of the City to reserve for future use. Sewer Reserve Funds will be used as approved by the City Council to support certain sewer materials and services, capital outlay, debt service expenses as necessary and appropriate, and as otherwise allowed by K.S.A. 12-631 p and amendments thereto.

(c)   The Sewer Reserve Fund shall receive $3,000 per year.

(Ord. 268; Code 2016)