Charter of the City And County of San Francisco 1931prelim

Cover Charter of the City And County of San Francisco 1931prelim
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At least every- five years thereafter, the commission shall cause an exam- ination to be made of the depreciation reserve funds of each such utility and the reconstruction and replacement expenditures therefrom. The commission, at the same time, shall make an appraisal or may revise the last preceding appraisal of the value and probable useful life of each of the several classes of property of each utility, and shall, on the basis of said appraisal redetermine the amount of the reasonable annua...l depreciation requirements of each utility. The commission shall pay monthly in cash into each such depreciation fund one-twelfth of the annual amount estimated on the basis herein provided as necessary to meet said depreciation, and each such depreciation fund shall be used for no other purpose. Pending the appraisement of properties as herein provided, there shall be paid each month one-twelfth of the annual amount estimated as necessary to provide for reconstruction and re- placements on the basis of the past experience of each utility.

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