The Natural Gas Fund will annually make a payment to the city’s General Fund account in lieu of taxes in an amount of 10% of the natural gas system’s net fixed assets as determined by the annual audit, the amount may be less than the determined 10% of fixed assets, amount to be determined by the needs if the fiscal budget, the amount is not to exceed $140,000.
(Res. 5-18-00, passed 5-18-00; Am. Res. 5-20-04, passed 5-20-04; Am. Res. 5-18-06, passed 5-18-06; Am. Res. 01-17-08, passed 1-17-08)