Part 63 — SAN JOSÉ CLEAN ENERGY OPERATING FUND

There is hereby created and established the "San José Clean Energy Operating Fund."

(Ord. 29987.)

There shall be deposited in the San José Clean Energy Operating Fund all monies derived from operation of the San José Clean Energy Program, including revenues from sale of electricity, payments from other entities, and any financing proceeds associated with the San José Clean Energy Program. The City Council may also transfer to this fund monies from the general fund or from any other funds which may be used for the purpose set forth in Section 4.80.4070.

(Ord. 29987.)

Monies in the San José Clean Energy Operating Fund shall be expended for costs of San José Clean Energy Program operations, including but not limited to, energy procurement costs, staffing and administration costs, energy programs, payment of required debt service, loan repayments, the establishment of reserves, and payment to the general fund for indirect overhead and for expenses incurred in the general fund for San José Clean Energy Program operations.

(Ord. 29987.)

Interest which accrues from monies in the San José Clean Energy Operating Fund shall be credited to this fund.

(Ord. 29987.)