King City Municipal Code Ch. 15.36 Sewerage System Funding—allocation and Use of Revenues

The general provisions contained in Chapter 15.04 shall apply to this chapter.

(Ord. 394 § 4, 1978; Ord. 772 § 5, 2019)

The definitions contained in Chapter 15.08 shall apply to this chapter.

(Ord. 394 § 4, 1978; Ord. 772 § 5, 2019)

“Revenues,” as used in this chapter, means moneys realized by the city from any source for the purpose of paying annual capital costs, bond redemption costs, and operation and maintenance costs of the municipal sewerage system. Such revenues shall be administered through the use of four separate funds: the sewer construction fund, the sewer bond fund, the sewer operations and maintenance fund and the sewer capital recovery fund.

(Ord. 394 § 4, 1978; Ord. 772 § 5, 2019)

The sewer construction fund shall be used to finance large capital projects within the municipal sewerage system. Income to this consists of federal and state grants transfers from the sewer bond fund; domestic single-family service connection fees imposed by Section 15.32.070; industrial cost recovery revenues distributable thereto under the provisions of Section 15.36.070; and any other funds of the city which from time to time may be specifically allocated thereto by the council. Revenues assigned to this fund from single-family service connection fees imposed by Section 15.32.070 shall be used only for the financing of additions to, or modifications of, or the correction of deficiencies in, said sewerage system.

(Ord. 394 § 4, 1978; Ord. 772 § 5, 2019)

The sewer bond fund shall be used for the purpose of holding moneys realized by the city from the issuance and sale of bonds to finance large capital projects within the municipal sewerage system (including, but not limited to, moneys realized from the sale in 1970 of bonds for the construction of interceptor sewer lines and wastewater treatment facilities) and for the servicing of said bonded indebtedness. Bond proceeds which are not needed for debt service shall be used to finance the construction of large capital improvements to the municipal sewerage system and for this purpose may be transferred to the sewer construction fund as circumstances from time to time require. Income to this fund consists of interest earned on unexpended proceeds from the sale of such bonds; ad valorem taxes upon the general property tax roll which have been allocated by the council to the servicing of such bonded indebtedness; the 1970 bond redemption additional charge and lost interest charges imposed by Section 15.40.100.

(Ord. 394 § 4, 1978; Ord. 772 § 5, 2019)

The sewer operations and maintenance fund shall be used to pay the costs of operation and maintenance of the municipal sewerage system and to pay the cost of small capital items for said system. Income to this fund consists of user charges imposed by Sections 15.40.040, 15.40.050, 15.40.060, 15.40.070 and 15.40.090.

(Ord. 394 § 4, 1978; Ord. 772 § 5, 2019)

The sewer capital recovery fund shall be used for the holding, investment and distribution of moneys realized from industrial cost recovery charges, in accordance with the provisions of Section 15.40.110.

(Ord. 394 § 4, 1978; Ord. 772 § 5, 2019)