(a) The Director of Finance is authorized and directed to transfer 5% of the funds received into the General Fund generated by the collection of the kilowatt hour distribution tax on the distribution of kilowatt electricity to end users located within the municipal corporate boundaries in accordance with the provisions of R.C. §§ 5727.80 et seq. to the Electric Enterprise Fund, pursuant to the authority found in R.C. Chapter 5705.
(b) The policy established by this section is in recognition of the uncompensated local contributions and services provided by the municipal electric utility to the community and to allow the utility to achieve as much local revenue neutrality for consumers as possible after the imposition of the new tax.
(Ord. 14-2001, passed 4-16-2001)