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106.120 Transfer of surplus in operating and maintenance funds to depreciation account.

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106.120 Transfer of surplus in operating and maintenance funds to depreciation account. If a surplus is accumulated in the operating and maintenance funds equal to the cost of <br>maintaining and operating the waterworks during the remainder of the calendar, operating <br>or fiscal year and during the succeeding like year, any excess over such amount may be <br>transferred at any time by the water district commissioners or city legislative body to the <br>depreciation account, to be used for improvements, extensions or additions to the <br>waterworks. Effective: June 17, 1954 <br>History: Created 1954 Ky. Acts ch. 18, sec. 12, effective June 17, 1954.