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951
CITY-OF-BATESVILLE
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1981
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4/30/2019 4:50:33 PM
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Em <br />NNW <br />-17- <br />hereby irrevocably made according to the terms of this Ordin- <br />ance, and the City and officers and employees of the City shall <br />execute, perform and carry out the terms thereof in strict <br />conformity ,iith the provisions of this Ordinance. <br />Section 12. Sanitation Operation and Maintenance <br />Fund. After the required deposit into the Bond Fund there <br />shall be paid from the Sanitation Fund into a special fund, <br />which is hereby created and designated "Sanitation Operation <br />and Maintenance Fund" (the "Operation and Maintenance Fund"), <br />on the first business day of each month an amount sufficient <br />to pay the reasonable and necessary monthly expenses of oper- <br />ation, repair and maintenance of the System for such month <br />and from which disbursements shall be made only for those pur- <br />poses. Fixed annual charges such as insurance premiums and the <br />cost of major repair and maintenance expenses may be computed <br />and set up on an annual basis, and one -twelfth (1/12) of the <br />amount thereof may be paid into the Operation and Maintenance <br />Fund each month. <br />If in any month for any reason there shall be a <br />failure to transfer and pay the required amount into the <br />Operation and Maintenance Fund, the amount of any deficiency <br />shall be added to the amount otherwise required to be trans- <br />ferred and paid into the Operation and Maintenance Fund in <br />the next succeeding month. If in any fiscal year a surplus <br />shall be accumulated in the Operation and Maintenance Fund over <br />and above the amount which shall be necessary to defray the <br />reasonable and necessary cost of operation, repair and mainten- <br />ance of the System during the remainder of the then current <br />fiscal year, such surplus shall be transferred to and deposited <br />in the Sanitation Fund. <br />Section 13. Sanitation Depreciation Fund. After <br />making the payments into the Bond Fund and into the Operation <br />and Maintenance Fund there shall be paid from the Sanitation <br />Fund into a fund designated "Sanitation Depreciation Fund" <br />(the "Depreciation Fund"), on the first business day of each <br />
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