§ 36-61. Permitted use of W.A.T.E.R. Funds.  


Latest version.
  • The city shall accept any gifts for the W.A.T.E.R. Fund including, but not limited to, those donations made to the fund pursuant to section 47-70.2 of this Code, on the condition that they shall be administered, managed and dealt with, save as otherwise provided, as a single trust to be known as the W.A.T.E.R. Fund (water aid to elderly residents) which shall be constituted of the aggregate of such gifts and shall be deposited in the city's trust and agency account. The aggregate of such gifts to the W.A.T.E.R. Fund may be invested pursuant to Chapter 104, Texas Local Government Code. At the direction of the utility official, the donations shall be devoted to the public purposes set forth in section 36-62 of this Code without regard to race, ethnic origin, color, sex or creed and shall not be diverted to the ordinary corporate purposes of the city.

(Ord. No. 84-1919, § 1, 12-18-84; Ord. No. 86-435, § 1, 4-1-86; Ord. No. 92-23, § 1, 1-15-92; Ord. No. 07-599, § 44, 5-16-07, eff. 7-1-09)