Ordinance 300-74 - Laserfiche WebLink

• i , • . 1 • • 1 account "A" moneys which may from time to time be made specifically 2 available thereto by action of the City Council. 3 (b) Account "B" which shall be the "Equipment Reserve Account," into which 4 shall be placed charges made to the departments of the City of Everett in 5 accordance with the provisions of Section 3 hereof, which are specifically 6 billed said divisions and departments to provide sufficient moneys, to 7 8 pay the costs of purchasing new equipment and replacing used 9 equipment as required to carry out the purposes of the Equipment 10 Rental Fund. There shall also be placed in Account "B" moneys 11 which are derived from the direct sale of any of the equipment or other 12 capital assets of the Fund and any moneys which may from time to 13 time be made specifically available thereto by action of the City Council. 14 Section 5: In order to provide an orderly transition of all Motor Vehicle 15 equipment from the Water, Sewer and Sanitation Departments to the Equip- 16 17 ment Rental Fund the Mayor shall cause the following steps to be undertaken: 18 (a) The Water, Sewer and Sanitation equipment shall be immediately trans- 19 ferred to the Equipment Rental Fund and those departments shall begin 20 to pay the equipment rental rates established in Section 3. 21 (b) The Water, Sewer and Sanitation departments shall transfer said 22 equipment without charge to the Equipment Rental Fund. 23 (c) The Water, Sewer and Sanitation departments shall pay to the Equipment 24 Rental Fund "B" account the accumulated replacement cost, accumulated 25 26 prior to the actual transfer, per equipment unit so transferred or the 27 actual cost of a new equipment unit. 28 (d) In order to accomplish the intent of Section C above, the total 29 amount shall be due on the effective date of this ordinance, but 30 may be paid to the Equipment Rental Fund in up to 60 equal 31 monthly installments plus interest at the rate of eight percent 32 per annum.