384.85 - RECORDS -- ACCOUNTS -- DEPOSITS.

        384.85  RECORDS -- ACCOUNTS -- DEPOSITS.         1.  The governing body of each city utility, combined utility      system, city enterprise, or combined city enterprise being operated      on a revenue producing basis shall maintain a proper system of books,      records, and accounts.         2.  The gross revenues of each city utility, combined utility      system, city enterprise, or combined city enterprise must be      deposited with the treasurer of the governing body and kept by the      treasurer in a separate account apart from the other funds of the      city and from each other.  The treasurer shall apply the gross      revenues of each city utility, combined utility system, city      enterprise, or combined city enterprise only as ordered by the      governing body and in strict compliance with such orders, including      the provisions, terms, conditions, and covenants of any and all      resolutions of the governing body pursuant to which revenue bonds or      pledge orders are issued and outstanding.  If the council is the      governing body, it may designate another city officer to serve as      treasurer.  
         Section History: Early Form
         [C97, § 748; S13, § 741-w2, 748; C24, 27, 31, 35, 39, § 5902,      6158; C46, 50, 54, 58, 62, 66, 71, 73, § 384.3(12), 398.9; C75, 77,      79, 81, § 384.85]         Referred to in § 26.9, 357A.11, 389.4, 390.5