Municipal Code, Complete - City of Santa Barbara

14.33.020 Creation of the Wastewater Fund.
A. WASTEWATER FUND. There is hereby created a City “Wastewater Fund.” All System Revenues shall be
paid over to and deposited in the Wastewater Fund.
B. USE OF FUND PROCEEDS. All amounts on deposit in the Wastewater Fund from time to time shall be
used only for the following purposes:
1. Payment of Maintenance and Operation Costs of the Wastewater System; and
2. Payment of any Qualified Take or Pay Obligation; and
3. Payment of costs of capital additions, replacements, betterments, extensions or improvements to the
Wastewater System, including the purchase or condemnation of lands and other property for Wastewater System
purposes; and
4. For the promotion of any of the products or services of the Wastewater System; and
5. Payment of principal and interest (including payments into any reserve or sinking fund) and premiums, if
any, upon prepayment thereof, of any Obligations, and any other financing costs related thereto (including the fees
and expenses of auditors, accountants, attorneys or engineers incurred in connection with the issuance thereof, and the
premium and other expenses of any bond insurance policy and debt service surety bond securing payment thereof);
and
6. For establishing and maintaining a reserve fund to insure the payment at maturity of the principal and
interest on all Obligations.
7. Such transfers to the City General Fund (or other City special fund) as shall be approved from time to
time by the City. (Ord. 5320, 2004.)
296-2 rev. 6/30/04