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 Pasadena
 Code of Ordinances
 CHARTER
 Article XIV. WATER AND POWER UTILITY OPERATIONS

  § 1408. ANNUAL CONTRIBUTION FOR ANY MUNICIPAL PURPOSE.  

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  • Each fiscal year the City Council shall transfer from the Light and Power Fund an amount equal to eight percent (8%) of the gross income of the electric works received during the immediately preceding fiscal year from the sale of electric energy at rates and charges fixed by ordinance, and from the Water Fund an amount equal to six percent (6%) of the gross income of the water works received during said preceding fiscal year from the sale of water at rates and charges fixed by ordinance. Said amounts shall be in addition to the amount authorized to be transferred by Section 1407, and shall be transferred at the same time and in the same manner as the amount provided in Section 1407. The amounts thus transferred may be expended for any municipal purpose.

    The amount to be so transferred from the Light and Power Fund shall not exceed one-half of the net income of the electric works as said net income is defined in the first paragraph of Section 1407. The amount to be so transferred from the Water Fund shall not exceed the net income of said Fund as shown on the books of account of the water utility after payment of the maintenance and operating expenses of the water works, the expenses of conducting the water utility, depreciation, and the principal, interest and premiums, if any, upon the redemption thereof, of water works revenue bonds.

    Notwithstanding anything herein contained, if the City Council at the time of or before the adoption of the budget shall determine that the transfer of such amount from the Light and Power Fund or from the Water Fund would be detrimental to the proper functioning and administration of the two utilities during the budget year under consideration, the City Council may so find by resolution, and, in such event, no transfer of such amount shall be made within that fiscal year. If the City Council shall determine that the transfer of an amount less than eight percent (8%) from the Light and Power Fund or of an amount less than six percent (6%) from the Water Fund would not be detrimental to the proper functioning and administration of these utilities during the budget year under consideration, the City Council may so declare by resolution, and shall transfer a smaller amount.

(Sec. 1408 amended by vote of the people 3-9-1993: Sec. 1408 amended by vote of the people 6-6-1972.)