Iowa Code 384.89 – Transfer of surplus
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Terms Used In Iowa Code 384.89
- 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
The governing body of a city utility, combined utility system, city enterprise, or combined city enterprise which has on hand surplus funds, after making all deposits into all funds required by the terms, covenants, conditions, and provisions of outstanding revenue bonds, pledge orders, and other obligations which are payable from the revenues of the city utility, combined utility system, city enterprise, or combined city enterprise and after complying with all of the requirements, terms, covenants, conditions and provisions of the proceedings and resolutions pursuant to which revenue bonds, pledge orders, and other obligations are issued, may transfer such surplus funds to any other fund of the city in accordance with any rules promulgated by the city finance committee created in section 384.13 if the transfer is also approved by the city council, provided that no transfer may be made if it conflicts with any of the requirements, terms, covenants, conditions or provisions of any resolution authorizing the issuance of revenue bonds, pledge orders, or other obligations which are payable from the revenues of the city utility, combined utility system, city enterprise, or combined city enterprise which are then outstanding.