§ 106.324. River City Renaissance Pay As You Go Capital Fund.

For the 2000-2001 fiscal year and for each fiscal year thereafter, within the City's budget, there are hereby appropriated all savings that accrue to the City's Pay As You Go Capital Account from the RCR Program to the payment of expenses of the commercial paper program and then to payment of outstanding commercial paper and/or related fixed rate debt.

The purpose of this fund is to provide funds for expenses and for the reduction of the outstanding amount of commercial paper under the RCR Program and/or related fixed rate debt. This appropriation is subject to execution of an appropriate Amendment No. 3 to the Financial Agreement between the City and the Jacksonville Electric Authority (now JEA). This authority shall expire on October 1, 2018.

(Ord. 2001-721-E, § 1)