§ 1404. SEPARATION OF FUNDS.

All money and property received by the City in payment for water or electrical energy and for any service rendered in connection therewith, or from the sale, lease, or other disposition of any property acquired with funds or property of either of said utilities; from the proceeds of any bonds issued for the purpose of either of said utilities; or from any special taxes at any time authorized for the purposes of either of said utilities shall be exclusively devoted to and appropriated for the purposes of said utilities as in this Section required. However, nothing herein shall be deemed to prevent uses of such property for purposes not inconsistent with the purpose for which such property is held. Funds of each utility shall be kept separate and shall be limited to the use of that utility. The funds of the water and the power utilities shall be known and designated as "Water Fund" and "Light and Power Fund," respectively. No transfer of real property, nor of any personal property exceeding in value $10,000.00, shall be made from either of said utilities to the other or to any other department of the City in any manner other than by ordinance or resolution of the City Council.

(Sec. 1404 amended by vote of the people 3-9-1993.)