Depreciation and Replacement Account definition

Depreciation and Replacement Account means the Water and Sewer Utility Depreciation and Replacement Account.
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Depreciation and Replacement Account means the fund or account designated as such and created or ratified by Section 401.
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Depreciation and Replacement Account means the account by that name ratified and confirmed by Section 501 hereof.
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Examples of Depreciation and Replacement Account in a sentence

  • All earnings on investments held in the Depreciation and Replacement Account shall accrue to and become a part of the Depreciation and Replacement Account until the amount on deposit in the Depreciation and Replacement Account shall aggregate the Depreciation and Replacement Requirement; thereafter, all such earnings shall be credited to the Revenue Fund.

  • Money in the Revenue Fund will be entirely distributed to other funds, and money in the Operation and Maintenance Account, the Depreciation and Replacement Account and the Surplus Account will be used to operate and maintain the City’s combined waterworks and sewerage system (the “System”), to replace and repair depreciated or obsolete System facilities and to otherwise improve the System.

  • If no other funds are available therefor, moneys in the Depreciation and Replacement Account may be used to pay Current Expenses.

  • Money other than sale proceeds or Investment proceeds of the Bonds on deposit in the Revenue Fund, Operation and Maintenance Account, Depreciation and Replacement Account and Surplus Account may be invested without Yield restriction.

  • Except as hereinafter provided, moneys in the Depreciation and Replacement Account shall be expended and used by the Municipality for the purpose of: (A) making extraordinary maintenance and repairs to the Utility, (B) making capital improvements in and to the Utility, and (C) keeping the Utility in good repair and working order so that it may continue in effective and efficient operation.


More Definitions of Depreciation and Replacement Account

Depreciation and Replacement Account means the Water and Sewer Utility Depreciation and Replacement Account established within the Treasury of the Municipality.
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Depreciation and Replacement Account has the meaning provided in Section 14(i)(ii)(C) (Affirmative Covenants – Establishment and Ratification of Funds and Accounts).
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Depreciation and Replacement Account means the fund or account created or ratified and confirmed by Section 401.
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Depreciation and Replacement Account means the account by that name ratified and confirmed by the Bond Ordinance.
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Depreciation and Replacement Account means the Water and Sewer Utility Depreciation and Replacement Account initially created by the Series 1993 Ordinance.
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Depreciation and Replacement Account means the account by that name created or ratified and confirmed by Section 401 hereof.
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Depreciation and Replacement Account means the account by that name referred to in the Ordinance.
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