The city shall be solely responsible for the proper use of any amounts collected as franchise fees, and shall only use such fees as collected for a purpose as allowed by applicable law. The city shall establish and maintain a franchise fee account within the city’s General Fund, to which all franchise fee revenue shall be deposited and all expenditures made in accordance with the provisions of Iowa Code §§ 364.2(4)(f) and 384.3.
(Prior Code, § 1-12-6) (Ord. 726, passed 7-18-2011)