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will be pleased to address the City' s correspondence ... - eCode360

will be pleased to address the City' s correspondence ... - eCode360

will be pleased to address the City' s correspondence ... - eCode360

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6455'All resolutions of <strong>the</strong> Board shall require, for <strong>the</strong>ir adop-tion, <strong>the</strong> favorable votes of at least a majority of <strong>the</strong> mem<strong>be</strong>rsof <strong>the</strong> Board.Section 133 { 142 }. Policy of <strong>the</strong> Board.The Board shall keep <strong>the</strong> { city water} system at all timesself- supporting and it shall <strong>be</strong> managed in <strong>the</strong> most efficientmanner consistent with sound economy and public advantages, <strong>to</strong> <strong>the</strong>end that <strong>the</strong> services of <strong>the</strong> system shall <strong>be</strong> furnished at <strong>the</strong>lowest possible cost ra<strong>the</strong>r than a source of revenue <strong>to</strong> <strong>the</strong> city,and such { water} system shall <strong>be</strong> operated for <strong>the</strong> use and <strong>be</strong>nefi<strong>to</strong>f those served by it and for <strong>the</strong> promotion of <strong>the</strong> welfare and<strong>the</strong> improvement of <strong>the</strong> health, safety, comfort and convenience of<strong>the</strong> inhabitants of <strong>the</strong> city.forSection 134 { 133 }. Treasurer of <strong>the</strong> Board -- duties.1The City Cham<strong>be</strong>rlain of <strong>the</strong> City of Norwich shall act as <strong>the</strong>Treasurer of <strong>the</strong> Board and shall deposit in { a} bank { account or)accounts, entitled " Water { System Revenue} Fund " {,} and " SewerFund ", such funds <strong>to</strong> <strong>be</strong> separate from any o<strong>the</strong>r accounts of <strong>the</strong>city, all moneys received from rents, rates, fees and o<strong>the</strong>rcharg-es of <strong>the</strong> { water} system, and shall not commingle such moneys witho<strong>the</strong>r moneys or funds of <strong>the</strong> city. He shall keep separate booksof account of all such moneys of <strong>the</strong> { water} system and of expenditures<strong>the</strong>refrom. The Board may delegate <strong>to</strong> him <strong>the</strong> duty of colwater}syslectingrents, rates, fees and o<strong>the</strong>r charges of <strong>the</strong> {tem. Because of <strong>the</strong> additional duties imposed upon him with relation<strong>to</strong> <strong>the</strong> { water} system, compensation may <strong>be</strong> paid him and <strong>the</strong>employees of his office in such amount as <strong>the</strong> Board shall determine<strong>to</strong> <strong>be</strong> reasonable. Such compensation shall <strong>be</strong> in addition <strong>to</strong><strong>the</strong> compensation received by him or by <strong>the</strong> employees of his officefor o<strong>the</strong>r duties here<strong>to</strong>fore performed for <strong>the</strong> city.Section 135 { 134}. Budget.On or <strong>be</strong>fore <strong>the</strong> first day of Oc<strong>to</strong><strong>be</strong>r in each fiscal year,<strong>the</strong> Board shall adopt and submit <strong>to</strong> <strong>the</strong> Common Council { a} budgets{,}entitled " Annual Budgets of Water System ". Such budgetsshall include separately for both <strong>the</strong> Water Fund and <strong>the</strong>Sewer Fund ( a) a budget message explaining briefly <strong>the</strong> operationof <strong>the</strong> { water} system, and setting forth <strong>the</strong> improvements, <strong>be</strong>ttermentsand extensions of <strong>the</strong> { water} system which <strong>the</strong> Board <strong>be</strong>lievesshould <strong>be</strong> constructed within <strong>the</strong> next five fiscal years,b) a statement of <strong>the</strong> moneys estimated <strong>to</strong> <strong>be</strong> received during <strong>the</strong>ensuing fiscal year from rents, rates, fees and o<strong>the</strong>r charges of<strong>the</strong> { water} system ( hereinafter referred <strong>to</strong> as " Revenues ") andc) a statement of proposed expenditures itemized under <strong>the</strong> headings" Operating Reserve Account ", {and} " Bond and Interest Ac-count," " Operation and Maintenance Account," and " Bond RetirementAccount." Under <strong>the</strong> four ( 4) proposed headings of expenditures,provision shall <strong>be</strong> made for <strong>the</strong> setting aside of such moneys in<strong>the</strong> respective accounts as shall <strong>be</strong> required by <strong>the</strong> bond resolution.Under <strong>the</strong> expenditure heading " Operating Reserve Account"shall appear an explanation of <strong>the</strong> amount which <strong>the</strong> Board estimates<strong>to</strong> <strong>be</strong> necessary for <strong>the</strong> construction of improvements or<strong>be</strong>tterments or extensions expected <strong>to</strong> <strong>be</strong> made during <strong>the</strong> ensuingfiscal year and under <strong>the</strong> heading " Bond Retirement Account" <strong>the</strong>reshall appear a statement of <strong>the</strong> principal amount of outstandingwater system} bonds which <strong>the</strong> Board recommends should <strong>be</strong> purchasedor redeemed by <strong>the</strong> city during <strong>the</strong> ensuing fiscal year.The above provisions shall <strong>be</strong> construed <strong>to</strong> state <strong>the</strong> minimum requirementsand <strong>the</strong> Board may include such fur<strong>the</strong>r itemization andexplanations as it may deem advisable. The Common Council may notvary <strong>the</strong> titles, headings of expenditure or conditions of administrationspecified in <strong>the</strong> budget and shall in no event reduce <strong>the</strong>provision required by any and all bond resolutions for <strong>the</strong> Bondand Interest Account. Before reducing any item of proposed expen-

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