(a) All moneys paid into the Permanent Improvement Fund at the time of closing of the sale of the electric generating plant equipment and distribution and street lighting system and lease of real property on or under which certain equipment is situated shall be invested pursuant to Ohio R.C. 731.56 et seq. and remain so invested for a period of at least ten years.
(b) The Treasury Investment Board shall consult with the Investment Advisory Board pursuant to the procedure set forth in Section 161.02 prior to any investment of the Permanent Improvement Fund.
(Ord. 5861. Passed 12-18-69.)
(c) All income received by the City each fiscal year from the investment of the Permanent Improvement Fund shall be immediately paid by the City into the General Fund of the City.
(Ord. 7018. Passed 12-16-77.)