(A) Fund established. There is hereby established in the city, in addition to other funds established in accordance with law, a Cable Revenue Fund. Said Fund shall be utilized for any legal expenditure as authorized from time to time by the city. The Fund shall be maintained by the City Clerk or Finance Director in an authorized banking institution in investments permitted by law as approved by the City Council.
(1978 Code, § 215.01)
(B) Fund investments. The Council shall appropriate all amounts received from the cable television franchise fee to be placed in the Cable Revenue Fund.
(1978 Code, § 215.02)
(C) Intra-fund transfers. In the event that the Council determines that it is necessary to transfer funds from the Cable Revenue Fund to another fund or account to be utilized for some other purpose than that set forth in division (A) above, the transfer shall be made only upon resolution of the Council setting forth the date and time of repayment to the Cable Revenue Fund and the interest, if any, to be paid.
(1978 Code, § 215.03)
(Ord. 87-14, passed 9-21-1987)