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5.04.460 Use of Sewage Disposal Fund.

(Added by Ordinance No. 160515, effective March 28, 1988.)  The funds described in Portland City Code Sections 5.04.400 through 5.04.450 shall in the aggregate constitute the Sewage Disposal Fund, and shall be used for only those Sewage Disposal Fund purposes authorized by the Charter of the City of Portland, Oregon.  If any of the funds associated with operation, maintenance, construction or debt management of the Sewer System become unnecessary or for any reason are dissolved and discontinued, then any remaining balances in that fund or funds shall be transferred to the Sewer System Operating Fund.  If the Sewer System Operating Fund is dissolved and discontinued, then any remaining balances in that fund shall be transferred to the City’s General Fund.  However, in no case shall any funds be transferred to the City’s General Fund until all outstanding debt of the sewer system is repaid according to terms and conditions of related bond and note ordinances.

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