(A) There is hereby ratified and established a Cash Reserve Fund to receive transfers of the city’s utilities surplus earnings in accordance with I.C. 8-1.5-3-11 (the “Cash Reserve Fund”).
(B) The Cash Reserve Fund shall be funded from:
(1) Monies determined by the Council to constitute surplus earnings from the city’s utilities attributable to prior years of operation or accumulated surplus earning; and
(2) Discretionary contributions of surplus earnings from the city’s utilities’ current operations or current-year surplus earnings as determined by the Council.
(Prior Code, § 2-421) (Ord. 06-60, passed 12-1-2006)