Chapter 15.04 — MUNICIPAL UTILITY

The formation and establishment of a municipally owned utility for the provision of electricity and natural gas services pursuant to City of San Marcos Resolution 2000-5500 is hereby codified, having been confirmed and ratified as of August 22, 2000. Pursuant to City Council action on October 9, 2001, "The Discovery Valley Utility" was adopted as the name of the municipal utility, and such name is incorporated into such codification effort. The City Manager or his designee is authorized to take all necessary and/or additional steps to provide for the operation and maintenance of the Discovery Valley Utility as directed by the City Council following a hearing.

(Ord. No. 2002-1133, 2-12-02)

As used herein the term:

(Ord. No. 2002-1133, 2-12-02)

(a)

Discovery Valley Utility or municipal utility shall mean the municipally owned natural gas and electricity utility of the City of San Marcos having the power and authority to provide electricity and natural gas services.

(b)

Discovery Valley Utility Fund shall mean the fund created and established for the municipal utility, which shall be accounted for separately from those of the City of San Marcos and/or any of its subsidiary agencies, into which all revenues or income generated by or

on behalf of the municipal utility shall be deposited, and from which all disbursals, distributions and/or payments shall be made in accordance with contracts made or entered into by the municipal utility.