8641 Water Deposit InterestORDINANCE NUMBER 8641
(Published in The Salina Journal �D 1978)
AN ORDINANCE PROVIDING FOR THE PAYMENT OF INTEREST BY THE CITY ON
DEPOSITS MADE BY WATER CUSTOMERS; AMENDING SECTION 35-26 OF THE SALINA CODE; AND
REPEALING THE EXISTING SECTION.
BE IT ORDAINED by the Governing Body of the City of Salina, Kansas:
Section 1. That Section 35-26 of the Salina Code is hereby amended
to read as follows:
''Section 35-26. Interest on deposits
The City shall pay to the customer making a water
deposit interest at the rate of five percent (5%) per annum,
such interest to be credited once a year or credited on the
first day of January succeeding such deposit and on the first
day of January thereafter to the credit of the customer's
outstanding account, unless prior to the first day of January
such customer shall request the payment of such interest in
cash, in which event the payment of interest shall be made
as requested. Any interest credited shall be subject to
call and payment at any time, but shall not draw interest.''
Section 2. That the existing Section 35-26 of the Salina Code is
hereby repealed.
Section 3. This ordinance shall be in full force and effect after
its adoption and publication in the official city newspaper.
Introduced: June 26, 1978
Passed: July �3, 1978
i
Ll V
Jack Weisgerb Mayor
(SEAL)
Attest:
D. L. Harrison, City Clerk
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