§ 4.100.020. Calculation of amount available for transfer—Transfer by the city council.

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The maximum aggregate amount available for transfer pursuant to Sections 1407 and 1408 of the City Charter from the light and power fund to the general fund shall be calculated by multiplying the annual gross electric retail income by 8 percent and comparing the amount so calculated to the accrual year's actual net income. The city council shall by resolution transfer the lesser of the 2 amounts. Notwithstanding the foregoing, the city council may transfer an amount other than 8 percent by resolution if it determines that it would not be detrimental to the functioning and administration of the power utility during the budget year under consideration.

(Ord. 6754 § 1, 1998: Ord. 6378 § 1 (part), 1990)

                    
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