Common use of Reserve Fund Deposits and Withdrawals Clause in Contracts

Reserve Fund Deposits and Withdrawals. The Reserve Fund Deposits and Withdrawals shall consist of the annual sum required to create and maintain Reserve Fund Levels consistent with Bond Covenants requirements and the City Utility Financial Policy. The Annual Reserve Fund Deposits and Withdrawals, and Reserve Fund Levels will be established by agreement between the City and the Utility Policy Committee or by the Kalamazoo City Commission upon recommendation from the Rate Consultant and the Utility Policy Committee using the “Process Regarding Water Rate Approval” set forth in 3.6 C.

Reserve Fund Deposits and Withdrawals. The Reserve Fund Deposits and Withdrawals shall consist of the annual sum required to create and maintain Reserve Fund Levels consistent with Bond Covenants requirements and the City Utility Financial Policy. The Annual Reserve Fund Deposits and Withdrawals, and Reserve Fund Levels will be established by agreement between the City and the Utility U tility Policy Committee or by the Kalamazoo City Commission upon recommendation from the Rate Consultant and the Utility Policy Committee using the “Process Regarding Water Rate Approval” set forth in 3.6 C.