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.

Terms Used In Iowa Code 384.85

  • and: includes the disjunctive "or" and the use of the disjunctive "or" includes the conjunctive "and" unless the context clearly indicates otherwise. See Iowa Code 384.23
  • City enterprise: means any of the following, including the real estate, fixtures, equipment, accessories, appurtenances, and all property necessary or useful for the operation of any of the following:
     a. See Iowa Code 384.24
  • City utility: means all or part of a waterworks, gasworks, sanitary sewage system, storm water drainage system, electric light and power plant and system, heating plant, cable communication or television system, telephone or telecommunications systems or services offered separately or combined with any system or service specified in this subsection or authorized by other law, any of which are owned by a city, including all land, easements, rights-of-way, fixtures, equipment, accessories, improvements, appurtenances, and other property necessary or useful for the operation of the utility. See Iowa Code 362.2
  • Combined city enterprise: means two or more city enterprises combined and operated as a single enterprise. See Iowa Code 384.80
  • Combined utility system: means two or more city utilities owned by a single city, and combined and operated as a single system. See Iowa Code 384.80
  • Council: means the governing body of a city. See Iowa Code 362.2
  • Governing body: means the public body which by law is charged with the management and control of a city utility, combined utility system, city enterprise, or combined city enterprise. See Iowa Code 384.80
  • Officer: means a natural person elected or appointed to a fixed term and exercising some portion of the power of a city. See Iowa Code 362.2
 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.
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