Section 11-50-504

Deposit and distribution of money received from use of electric system.

All money collected from the sale of electric current or received in any way from the use of the municipal electric distribution system shall be deposited in the municipal depositories, which shall be qualified public depositories under Chapter 14A of Title 41, and shall be distributed by the board as required by the governing body of the municipality.

(Acts 1939, No. 463, p. 675; Code 1940, T. 18, §74; Act 2000-748, p. 1669, §2.)