§ 1161.03. Deposits for electric service.  


Latest version.
  • (a)

    Moneys received by the City Treasurer as a deposit guaranteeing payment for electric service furnished by the Division of Power, shall be temporarily entered in the City Auditor's account designated sinking fund suspense trust (Electric Service).

    (b)

    All moneys transferred to the Sinking Fund in accordance with C.C. 1161.05 shall be thereafter retained until either returned to the depositor or claimed by the lawful owner. If not claimed within a period of five (5) years after termination of the services for which the deposit was made, such money shall revert to the Electricity System Revenue Fund of the Division of Power.

(Ord. 2972-87: Ord. 422-06 § 2 (part); Ord. No. 2398-2012, § 12, 12-3-2012)