(A) All moneys received as charges for the services of the gas system shall be deposited in a bank account separate and distinct from the bank accounts in which other city funds are held. The funds shall be administered and allocated in accordance with the provisions of the Ordinance passed on October 11, 1957, as amended December 27, 1957, authorizing the issuance of $243,000 natural gas system revenue bonds or in accordance with any ordinance which may hereafter be adopted to refund such bonds.
(B) It shall be the duty of the City Council to have set up and maintain a proper system of accounts and records separate from all other accounts and records, showing the amount of revenues received from the gas system and the application of such revenues and all financial transactions in connection therewith. Such accounts shall annually be audited properly by an independent public accountant.
(Ord. 363, passed 5-2-58)