San Jose Municipal Code Part 83 San José Power Operating Fund

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

(Ord. 30956.)

All monies derived from the operation of San José Power, including but not limited to revenues from sale and delivery of electricity, payments from other entities, and any financing proceeds associated with San José Power will be deposited in the San José Power Operating Fund. The City Council may also transfer to this fund monies from the general fund or from any other unrestricted funds for the purpose set forth in Section 4.80.4880.

(Ord. 30956.)

Interest that accrues from monies in the San José Power Fund will be credited to this fund.

(Ord. 30956.)

A. Monies in the San José Power Fund will only be expended for costs of operating San José Power, including but not limited to, energy procurement; on-going capital improvements and maintenance of the electric utility system in the utility service area; payment of required debt service; staffing and administration costs; purchase of supplies, materials, and equipment attributable to or necessary for the operation, improvement, and maintenance of the electric utility system in the

B. utility service area; and transfers to the general fund to compensate the City as permitted by applicable law.

C. Monies in the San José Power Fund will be appropriated, and appropriate reserves within the San José Power Fund will be established and maintained, as determined by the City Council on an annual basis through the budget process.

(Ord. 30956.)