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GAS & ELECTRIC FRANCHISE FEE FUND EXPENDITURE <br /> COMMENTARY <br /> In October 1993 the Council adopted a franchise fee ordinance for gas and electric <br /> service sold within the City. The Gas and Electric Franchise Fee Fund was created to <br /> record the receipt of the fees and to account for their uses. The Council has proposed <br /> a transfer of $50,312 to the General Fund to finance the salary of a golf course <br /> superintendent during the construction of a proposed golf course. The Council has also <br /> proposed to transfer $75,000 to the General Fund to "buy down" the City's property tax <br /> levy. The remainder of anticipated revenues will be placed in a contingency account. <br /> The Council may choose to appropriate money from this account for future projects. <br />