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City of Mounds View <br />203.01 203.02 (Rev. 5/10) <br />Subd. 10. Authentication of Transcript: The officers of the Municipality and the County Auditor <br />of Ramsey County shall prepare and furnish to the purchaser of each series of such bonds <br />certified copies of all proceedings and records relating to the authorization thereof and such <br />other certificates and affidavits as to matters shown by the records in their custody or <br />otherwise known to them as may be required to evidence the validity and marketability of <br />the bonds, and all such documents shall be deemed representations of the Municipality as to <br />the correctness of all statements therein contained. (1988 Code §20.01) <br />203.02:UTILITIES OPERATING FUNDS: <br />Subd. 1. Establishment: There are hereby created separate and special funds designated as the <br />"Water Utility Operating Fund" and "Sewer Utility Operating Fund" which shall be <br />maintained on the official books and records of the City and be administered in accordance <br />with this Section. These Funds shall be used to handle the revenues and expenses from the <br />Municipal water and sanitary sewer utilities owned and operated by the Municipality1. <br />Subd. 2. Revenue and Expenses: Revenue from either the water or sanitary sewer system shall be <br />credited directly to the proper account. Expenses shall be debited against the applicable <br />water or sanitary sewer system account. Any expenses that are made for public utility <br />purposes shall be apportioned by the Finance Director/Treasurer to the applicable account. <br />Subd. 3. Transfer of Funds: The Council may transfer funds into the Utilities Operating Funds <br />from any source, and the Council may transfer funds out of the Utilities Operating Funds to <br />the General Fund or Improvement Bond Redemption Fund2. <br />Subd. 4. Pledge of Funds: In the event the Council pledges any of the funds of the Utilities <br />Operating Funds for bond redemption or any other purpose, the City Administrator shall <br />make such payments as are necessary in the manner prescribed by law or resolution. All <br />pledges must be satisfied before the Council can authorize a transfer out of the Utilities <br />Operating Funds. (Amended, Ord. 844, 5-20-10) <br />Subd. 5. Investment of Funds: Whenever there are temporary idle funds in the Utilities Operating <br />Funds, the Finance Director/Treasurer may invest said funds, and the revenue derived <br />therefrom shall be credited to the appropriate Utilities Operating Funds. (1988 Code §20.03) <br />1 See Chapters 906 and 907 of this Code for water and sewer systems. <br />2 See Section 203.01 of this Chapter.