(A) Subject to the provisions of Ord. 0-67-11, the City Treasurer shall receive all of the revenue derived from the city gas system and all other money and funds incidental to the operation of the system and shall deposit them in a separate bank account for those funds, separate from all other funds of the city, and shall administer the Gas Fund in every respect as in manner and form provided by law and in accordance with the provision heretofore adopted by the City Council pertaining to the construction, maintenance and operation of the city gas system or in accordance with any ordinance hereafter adopted to refund the Gas Public Utility Certificates.
(B) It shall be the duty of the City Treasurer to set up and maintain a proper system of accounts and records separate from all other accounts and records, showing the amounts received from the gas system and the application of them and all financial trans- actions connected therewith. The accounts shall be audited annually by an independent certified accountant, as provided by Ord. 0-67-11 and the Illinois Municipal Accounting Act.
(Ord. 0-81-3, passed 5-18-81)