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<br /> ARTICLE 3 <br /> FISCAL <br /> 3.1 LCRA shall retain possession of all notes, cash, <br /> investments, accounts receivable, CUSTOMER deposits, materials <br /> and supplies, and all other SYSTEM personal property of CITY in <br /> the possession of LCRA at the date of closing and shall duly <br /> account to CITY for same as provided for hereinafter in this <br /> Aqreement. <br /> 3.2 All cash held by LCRA for the account of CITY <br /> and all cash collected by LCRA for the account of CITY after <br /> 12:01 a.m., September 1, 1986, shall be deposited in bank <br /> accounts in such bank or banks as the City Council of San <br /> Marcos may direct by formal resolution and upon such terms and <br /> conditions as may be specified in each such resolution. Such <br /> deposits shall be made as: <br /> CITY OF SAN MARCOS <br /> ELECTRIC UTILITY ACCOUNT <br /> BY <br /> LOWER COLORADO RIVER AUTHORITY <br /> OPERATING AGENT <br /> 3.3 All proceeds of any interest bearing time depos- <br /> its, investments, accounts receivable, and any other moneys due <br /> to CITY after 12:01 a.m., September 1, 1986, and which are held <br /> by LCRA for the account of CITY shall, upon collection, be <br /> -13- <br />