1.6.801: FUND CREATED:

There is hereby created a fund to be known as the sales and use tax capital improvement fund. (Ord. 11-18)

1.6.802: PURPOSE OF FUND:

Effective February 1, 1997, the City Council has determined that expenditures are necessary by the City for capital improvements for the City. The Council further determines that capital improvements funding each year be in accord with an evaluation of total budget needs. (Ord. 11-18)

1.6.803: SOURCE OF REVENUE:

The source of revenue for the fund is all sales and use tax revenue collected pursuant to the City's Tax Code. This revenue shall be transferred to the fund and upon transfer, the revenue shall become monies of the fund. (Ord. 11-18)

1.6.804: EXPENDITURES FROM THE FUND:

Monies from the fund shall be expended for capital improvements as set forth in the budget adopted by the City Council each year pursuant to City Charter section 7-30, including payment of general obligation bonds issued under City Charter section 7-30 to fund the capital improvements. Fund monies shall not be expended for any other purpose. (Ord. 11-18)

PART 9 CLAIMS RESERVE FUND 1

SECTION:

1.6.901: Fund Created

1.6.902: Source Of Revenues

1.6.903: Expenditures For Fund

1.6.904: Accounts Within The Claims Reserve Fund

 

Notes

1	1. Prior ordinance history: Ord. 85-273; Ord. 98-185; Ord. 01-42.

1.6.901: FUND CREATED:

There is hereby created a fund to be known as the claims reserve fund. (Ord. 11-18)

1.6.902: SOURCE OF REVENUES:

The money from the following sources shall be placed in the fund: All monies appropriated by the City Council in connection with the claims reserve fund set forth in this chapter, as well as earnings from investments of the monies of the fund. (Ord. 11-18)

1.6.903: EXPENDITURES FOR FUND:

The funds shall continue until terminated by the City Council, and all monies may be carried over from year to year. The expenditures from the fund shall be those authorized under this chapter. (Ord. 11-18)