(a) There shall be paid into the General Fund of the City all income earned from investment of all of the funds of the City, including any gain realized from any obligations sold or redeemed at a price in excess of their purchase price.
(b) The Finance Director shall submit to Council monthly reports of the amount of income earned and paid into the General Fund, in such form as the Mayor may from time to time prescribe.
(c) The income thus earned during the current fiscal year shall be disposed of as herein provided, and shall continue to be so disposed in subsequent fiscal years until otherwise directed by Council.
(Ord. 1978-94. Passed 7-11-78.)