Use of revenue.
Riverside City Charter, art. XII, § 1204
in effectSec. 1204. - Use of revenue.
The revenue of each public utility for each fiscal year shall be kept separate and apart from all other moneys of the City by deposit in the appropriate revenue fund and shall be used for the purposes and in the order as follows:
(a) For the payment of the operating and maintenance expenses of such utility, including any necessary contribution to retirement of its employees.
(b) For the payment of interest on the revenue bonded debt of such utility. As used in this section "revenue bonded debt of such utility" means the debt evidenced by revenue bonds, revenue notes or other evidences of indebtedness payable only out of the revenues pertaining to the utility involved, whether the same are issued under the provisions of this Charter or under the provisions of any general law of the State of California.
(c) For the payment, or provision for the payment of the principal of said debt as it may become due, and of premiums, if any, due upon the redemption of any thereof prior to maturity.
(d) For the establishment and maintenance of any reserves for B and C above.
(e) For capital expenditures of such utility.
(f) For the annual payment by each utility into the general fund in twelve equal monthly installments during each fiscal year, an amount not to exceed 11.5 percent of the gross operating revenues, exclusive of surcharges, of each specific utility for the last fiscal year ended and reported upon by independent public auditors.
Source: City of Riverside, California, Municipal Code and City Charter (Municode Library, library.municode.com)URL: https://library.municode.com/ca/riverside/codes/code_of_ordinances?nodeId=PTICICH_ARTXIIDEPUUT_S1204USREFetched: 11/1/2026