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739
CITY-OF-BATESVILLE
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4/30/2019 2:09:23 PM
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"err r.rr <br />Page 13 <br />City or any department, agency or instrumentality thereof shall avail itself of <br />the facilities and services afforded by the Sewer System, the reasonable value <br />of the service or facilities so afforded shall be charged against the City or such <br />department, agency or instrumentality and shall be paid for as the charges therefor <br />accrue. The revenues so received shall be deemed to be revenues derived from <br />the operation of the Sewer System and shall be used and accounted for in the <br />same manner as the other revenues derived from the operation of the Sewer <br />System; provided, however, that nothing herein shall be construed as requiring <br />the City or any department, agency or instrumentality thereof to avail itself of <br />the facilities or services afforded by the Sewer System. <br />Section 6. Sewer Fund. The Sewer System shall be continuously <br />operated as a revenue-producing undertaking and all revenues derived from the <br />operation of the System shall be paid into a special fund, which is hereby <br />created and designated "Sewer Fund." The revenues so deposited in the Sewer <br />Fund are hereby pledged and shall be applied to the payment of the reasonable <br />and necessary expenses of operation, repair and maintenance of the System, to <br />the payment of the principal of and the interest on the Sewer Revenue Bonds, and <br />t o the providing of a Depreciation Fund, as hereafter set forth. The Sewer Fund, <br />and the other special funds hereafter in this Ordinance provided for, shall be <br />maintained in such depositories of the City as shall from time to time be de- <br />signated by the Sewer Committee, with all such depositories to hold membership <br />in the Federal Deposit Insurance Corporation, and with all deposits in any de- <br />pository in excess of the amount insured by the Federal Deposit Insurance <br />Corporation to be secured by bonds or other direct or fully guaranteed obli- <br />gations of the United States of America. <br />Section 7. Sewer Operation and Maintenance Fund. There shall be <br />paid from the Severer Fund into a fund which is hereby created and designated <br />
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