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1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />SECTION 7. The revenues of the utilities for each fiscal year <br />shall be kept separate and apart from all other monies of the City and shall be <br />used for the purpose and in the order as follows: <br />a. For the payment of the operating and maintenance expenses of <br />such utilities. <br />b. For the payment of interest on the bonded debt of such utilities. <br />As used in this section "bonded debt of such utilities" means the <br />debt evidenced by bonds, notes, or other evidences of indebtedness <br />payable only out of the revenues pertaining to the utility in- <br />volved. <br />c. For the payment, or provision for the payment of the prinicipal <br />of said debt as it may become due, and of premiums, if any, due <br />upon the redemption of any thereof prior to maturity. <br />d. For the establishment and maintenance of any reserves for (b) <br />and (c) above. <br />e. For capital expenditures of such utilities. <br />f. To the City of Colton General Fund as directed by the Mayor and <br />City Council. <br />SECTION 8. This ordinance shall be published and become effective <br />as provided by law. <br />PASSED, ADOPTED AND APPROVED this 7th da of December 1976. <br />r <br />ABE &JBELTRAN <br />Mayor <br />IATTEST: <br />A d .. ? <br />HELEN A. RAMOS <br />City Clerk <br />- 2 - <br />