There is hereby established a fund account to be known as the Capital Replacement Fund (CRF). Said fund shall be for the purpose of financing capital improvements, new capital equipment and/or replacement of capital equipment for the departments within the city. The funds currently in the account number 06 and future funds, specifically allocated to the CRF by city council, pay back and interest from departments securing loans from the fund shall be maintained in this account.
(Prior Code, § 1-116; Ord. of 3-27-1990)