§ 2.70.050. Minimum retained earnings.

Latest version.

As an operating guideline, maintenance of minimum retained earnings shall be no less than twenty-five percent (25%) of the previous year's gross operating income of the fund. This minimum retained earnings balance shall be invaded only when extraordinary needs exist as declared by resolution of the City Council.

(Ord. 1347 §§1, 5, 2003)

                    
                        var val = document.getElementById('citecontent').innerHTML;
                        art.dialog.defaults.title = window.location.href;
                        art.dialog.data('cite', val);
                        art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                        art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');