§ 28-367. Electric fund.

(a)

There shall be an account kept by the treasurer, known as the electric fund. All money received from the sale of electric bonds, from the collection of electric bills, from taxation for electric purposes, from the sale of any property or material connected with the electrical system, from any appropriation made by the council for construction, extension or operation of the electric system or from any source whatever connected with the management and operation of the electric system, shall be paid out of this fund.

(b)

This section shall not be construed to prohibit appropriations by the council from the electric fund to other city funds. The council may by resolution appropriate monies from the electric fund if it deems such action to be in the best interest of the city, provided that funds remain in the electric fund sufficient to cover known liabilities against the electric fund.

(Prior Code, § 85.04)