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Interfund transfers shall be administered as follows:

(a) Funds established by bond ordinances or covenants in such ordinances shall control such funds in accordance with the mandate of the applicable ordinance.

(b) For short term borrowing between funds, also sometimes known as interfund transfers, the Council shall authorize such borrowing by ordinance. Such borrowing shall comply with the Charter of the City of Kenai, Section 6-2.

(Ord. 222)