(A) There is hereby established an enterprise fund to record all monetary debt transactions of the telecommunication operations of the city. This fund shall be known as the Telecommunications Bond Fund. The Telecommunications Bond Fund shall be maintained by the City Auditor and shall be used for the benefit of the public peace, health, welfare and morals of the city.
(B) It is the intention of the City Council that the Telecommunications Bond Fund is deemed to be a part of the Telecommunications System Account established in the indenture and is intended to be available as security for the holder of the bonds.
(Ord. 8572, passed 10-22-02)