§54-21  Reserve fund.  The board of
water supply may provide for the accumulation of a fund for the purpose of
financing major replacements, or extensions and additions, the average
estimated annual increment to which, for a period of ten years, shall not
exceed fifteen per cent of the gross revenue of the board in any fiscal year.
[L 1961, c 155, pt of §1; Supp, §145A-11; HRS §54-21]