§ 3.03.020. Transfers to the water and sewer enterprise fund—Stabilization account.

Latest version.

A.

Within ninety days of the certification of free cash by the department of revenue within the water and sewer enterprise fund, the mayor shall present to the city council, and the city council may approve, a transfer to the water and sewer enterprise fund—stabilization account of a sum equal to not less than fifteen percent of the total free cash amount certified by the department of revenue.

B.

The mayor and city council may agree to make transfers from any other source to the water and sewer enterprise fund—stabilization account, provided that any such transfers are approved by a two-thirds vote of the city council.

(C.O. 10-320-A, § 1, 11-22-2010)

                    
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