§ 1161.05. Authority of trustees of sinking fund.

The trustees of the sinking fund are authorized and directed to invest any or all of the guarantee deposit moneys, originating from the operations of the Division of Power in the provision of electricity service, transferred to them, according to their discretion and deemed to be to the best interest of the city and the depositors according to law. Such funds so invested shall be accounted for, by the trustees of the sinking fund, as to total only and shall not be required to be segregated from other funds in the hands of the trustees of the sinking fund. The amount received from deposits may be commingled with other funds in the hands of the sinking fund trustees and can be invested with such other funds.

(Sec. 15.5; Ord. 422-06 § 2 (part); Ord. No. 2398-2012, § 12, 12-3-2012)