Pursuant to M.S. § 471.57, as it may be amended from time to time, there is hereby established a fund to be known as the “Public Works Reserve Fund”, which shall be used for capital improvements as required. In authorizing additions to this fund from time to time, the City Council may stipulate that the additions or portions thereof shall be used for specific projects or types of improvement, at its discretion, and there shall be no diversion from the designated purpose unless approved by the voters according to law.
(Prior Code, § 102.08)