1995 ORD O-13-95 - Laserfiche WebLink

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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Electric System Revenue Fund and the following accounts therein: W Electric System Revenue Account (the "Revenue Account"); (ii) Electric System Maintenance and Operation Account (the "M&O Account") (iii) Electric System Qualified Obligations Account (the "Qualified Obligations Account"); (iv) Electric System Surplus Revenue Account (the OSurplus Revenue Account"); and (v) Operating Reserve Account (b) The Treasurer shall maintain the Electric System Revenue Fund and the accounts therein so long as any of the qualified Obligations remain Outstanding. Section 3: Flow of Gross Revenues: The Treasurer shall deposit the Gross Revenues of the Electric System, as received, in the Revenue Account into a bank account separate and apart from other accounts of the City that draws an appropriate interest rate. On or before the 20th day of each calendar month, the Treasurer shall withdraw the entire amount on deposit in the Revenue Account and shall allocate and deposit such amount in the indicated priority to the following accounts and funds: W First, there shall be transferred to the M&O Account an amount sufficient for the payment of Maintenance and Operation Expenses as said expenses become due and payable; (ii) Second, there shall be transferred to the Qualified Obligations Account the amount of Qualified Obligation Service with respect to such calendar month (to the extent not already transferred to such Account in such month or not otherwise on deposit in such Account), or the entire amount of Gross Revenues then available for transfer to the Qualified Obligations Account, whichever is less; and (iii) Third, all monies remaining in the Revenue Account after the above transfers have been made shall be transferred to the Surplus Revenue PA