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There is hereby established a fund known as the property management fund (fund 502) as follows:

A. Purpose. The purpose of this fund is to account for all costs associated with the maintenance and operation of City owned, leased and maintained buildings specified by the City Manager.

B. Revenue. Revenue source is replacement reserves and interfund charge to the benefiting or user fund. Other revenues may include interest earnings, proceeds from the sale of assets, interfund transfers, and other revenue sources designated by City Council. [Ord. 599 § 5, 2014; Ord. 589 § 27, 2014.]