Chapter 27 UTILITIES*
Section 27-44 Water and electric depreciation fund.
There is hereby created a fund known as the "water and
electric depreciation fund." Into such
fund there shall be transferred monthly, from the water and light fund, and deposited a sum equal
to the depreciation chargeable against the properties from time to time constituting the water and
electric light works of the city. The amount of depreciation and the amount to be transferred
monthly into the fund hereby created shall be determined according to a formula heretofore or
hereafter determined by the consulting engineers employed by the city. The sums so deposited
into such fund shall be expended only for unusual and extraordinary repairs and replacements of
the water and electric light works and for emergency expenses of such works.
(Code 1964, § 15.070)