3.24.030 Sources of fund principal.
A. Income from Land Sales.
1. The net proceeds from the sale of municipal land shall be deposited to the principal of the permanent fund. Net proceeds are defined as cash remaining from the sale after all applicable expenses relating to the sale have been deducted. Expenses include engineering and surveying fees, title research fees, legal fees, administrative charges and expenses, printing costs and applicable assessments for local improvement districts established pursuant to Chapter 3.90 HBC.
2. Interest income on contracts of sale shall accrue to the general fund.
B. Income appropriated to the fund to protect the principal from the effects of inflation.
C. Other. Funds from any source including unexpended funds in the earnings account may be appropriated to the principal of the permanent fund by ordinance of the assembly. (Ord. 07-08-164 § 5)