(A) The Clerk-Treasurer is hereby directed and authorized to establish and maintain a fund entitled the “Telecommunication Fund”.
(B) The monies in the Telecommunication Fund shall be held separately from funds in the general operating budget of the city.
(C) The Clerk-Treasurer shall deposit into the Telecommunication Fund the proceeds of all franchise fees paid by cable television licensees to the city.
(D) Any monies received that are not otherwise required to be used to carry out the purpose for which the money was received shall be invested by the Clerk-Treasurer in accordance with the investment policies set forth in § 30.11.
(Ord. 1991-2, passed 3-4-1991)
Cross-reference:
Cable television franchise, see Chapter 110