(a) The Director of Finance is hereby required to identify interest income from the investments of any City Funds. Interest derived from the investments of the Oakley Trust Fund shall be deposited only in that account. Interest derived from notes issued toward any ongoing project shall be deposited in that project’s fund. All other interest derived on investments shall be deposited in the General Fund of the City with the exception that Council may by ordinance establish other funds whose investments interest would be allocated to that fund.
(Ord. 99-97. Passed 12-20-99.)
(b) The Director of Finance shall indicate in the report to Council of the status of City funds, the amounts earned and deposited in the individual funds hereinabove enumerated in subsection (a) hereof.
(Ord. 82-14. Passed 3-15-82.)