§ 2.70.060. Retained earnings.

Latest version.

(a)

Retained earnings are defined as all surpluses resulting from the application of revenues from Section 2.70.030 above after allocation of expenses required by Section 2.70.040 above.

(b)

Retained earnings may be used for any local economic development purpose as the same may be declared by the City Council.

(Ord. 1347 §§1, 6, 2003)

                    
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