Part 35 — UNDERGROUND UTILITY FUND

There is hereby created and established a separate fund entitled the "underground utility fund."

(Ord. 22823.1.)

There shall be deposited into and credited to the underground utility fund all revenues received as assessments and fees for city's costs and expenses related to the performance of work necessary to place underground certain utility facilities, including, but not limited to, wires, pipes and communications facilities, which are to be newly installed or which were previously located aboveground. There shall also be deposited into said fund such other moneys as the city council may from time to time appropriate to said fund.

(Ord. 22823.1.)

The city council may transfer to the underground utility fund moneys from any other fund, and may transfer moneys from the underground utility fund to any other fund which may be used for the purposes set forth in Section 4.80.1980. The city council may, subject to any contractual or other legal limitations, transfer earned interest on moneys deposited into said fund to any other fund for any other purpose.

(Ord. 22823.1.)

Moneys in the underground utility fund shall be expended for the direct payment to or reimbursement of the general fund for city costs and expenses related to the performance of work necessary to place underground certain utility facilities which are to be newly installed or which were previously located aboveground.

(Ord. 22823.1.)