Depreciation and Replacement Account definition

Depreciation and Replacement Account means the Water and Sewer Utility Depreciation and Replacement Account.

Depreciation and Replacement Account means the fund or account designated as such and created or ratified by Section 401.

Depreciation and Replacement Account means the account by that name ratified and confirmed by Section 501 hereof.

Examples of Depreciation and Replacement Account in a sentence

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

• 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.

• There shall next be paid and credited monthly to the Depreciation and Replacement Account minimum monthly amounts to the end that the Depreciation and Replacement Account will reach the Depreciation and Replacement Account Requirement within a period of thirty (30) months from the date of the first such transfer.

• Except as provided in Section 503, moneys in the Depreciation and Replacement Account will be used by the City for the purpose of making replacements and repairs to the System in order to keep the System in good repair and working order and to assure the continued effective and efficient operation of the System.

• Fiscal year-end balances in the Operation and Maintenance Account and the Depreciation and Replacement Account shall be carried over to the same accounts in each subsequent fiscal year, and shall be used for no other purposes than those designated for these accounts.

More Definitions of Depreciation and Replacement Account

Depreciation and Replacement Account means the fund or account created or ratified and confirmed by Section 401.

Depreciation and Replacement Account has the meaning provided in Section 14(i)(ii)(C) (Affirmative Covenants – Establishment and Ratification of Funds and Accounts).

Depreciation and Replacement Account means the Water and Sewer Utility Depreciation and Replacement Account established within the Treasury of the Municipality.

Depreciation and Replacement Account means the account by that name ratified and confirmed by the Bond Ordinance.

Depreciation and Replacement Account means the Stormwater System Depreciation and Replacement Account created by Section 501 hereof.

Depreciation and Replacement Account means the Electric Utility System Depreciation and Replacement Account referred to in Section 501 hereof.

Depreciation and Replacement Account means the Student Union and Dormitory System Depreciation and Replacement Account referred to in Section 501 hereof.