Hastings |
Code of Ordinances |
Appendix B. WATER SUPPLY SYSTEM AND SEWAGE DISPOSAL SYSTEM BONDS |
Article I. WATER SUPPLY AND SEWAGE DISPOSAL SYSTEM REVENUE BONDS, SERIES 1970 |
§ 16. Reverse flow of funds.
Latest version.
In the event the moneys in the receiving fund are insufficient to provide for the current requirements of the operation and maintenance fund or the bond and interest redemption fund, any moneys and/or securities in other funds of the system shall be transferred, first, to the operation and maintenance fund, and second, to the bond and interest redemption fund to the extent of any deficit therein.