§ 106.314. Interest earnings on council district bond proceeds.

Latest version.

All interest earnings from, or attributable to, any and all bond proceeds which are allocated to certain funds or accounts on the basis of, or per, council district shall be and are hereby allocated to, and appropriated for, expenditure from such Council District bond fund or account. Any and all calculations and allocations shall be done in the same manner, on the same basis and at the same time(s) as other such calculations and allocations are made for other City funds or accounts. This provision shall apply to any and all interest earning on bonds issued by the City on or after July 1, 1997, together with all unexpended, unencumbered, accrued interest earnings on similar bonds issued by the City prior to July 1, 1997, unless otherwise provided by the Council.

(Ord. 97-569-E, § 1)

                    
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