Number
090427
Version
SUBSTITUTE 1
Reference
Sponsor
THE CHAIR
Title
A substitute charter ordinance amending and opting out of provisions relating to the appropriation of surplus earnings from the water works to the city general fund.
Sections
14-08-1 am
Analysis
Section 14-08 of the city charter, enacted by the state legislature in 1905, and applying only to cities of the first class, provides that the common council may appropriate surplus earnings of the water works to the city’s general fund if there is a sufficient sum of money in surplus earnings to pay 2 years installment on water works bond principal and interest. In this charter ordinance, the city elects not to be governed by portions of the 1905 provisions, and amends those provisions so that water works surplus earnings may be appropriated to the city’s general fund if there is a sufficient sum of money in surplus earnings to pay one year installment of water works bond principal and interest.
Body
Whereas, Sections 14-08-1 and 2 of the city charter were enacted as session laws by the Wisconsin legislature in 1905 (§§ 1 and 2, Ch. 469, L. 1905); and
Whereas, Wis. Stat. § 66.0811(2) provides that the surplus income of a municipal public utility may be paid into a city’s general fund after all payments have been made for “operation, maintenance, depreciation, interest, and debt service fund requirements, local and school tax equivalents, additions and improvements, and other necessary disbursements and indebtedness[;]” and
Whereas, Wis. Stat. § 66.0811(2) does not contain the additional limitations on the City’s ability to appropriate surplus earnings contained in section 14-08-1 of the city charter; and
Whereas, Wis. Stat. § 66.0811(2) applies with uniformity to all municipal public utilities, including the Water Works; and
Whereas, The issue of the retention of additional limitations on the City of Milwaukee’s ability to appropriate surplus earnings from its municipal public ut...
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