It is recognized by the Common Council that there is a perpetual and growing need for the maintenance, repair, paving, preservation, and upgrading of the roads and streets under the jurisdiction of city government, and that the Street Department and Department of Public Works, develop plans, projects, and programs for such, and seek appropriations and allocations of monies by the Common Council therefore, as part of the annual budgetary process, and otherwise. Such undertakings are herewith referred to as road maintenance programs. Requests for use of monies from the Fund for road maintenance programs shall be submitted annually to the Expenditure Review Committee, as part of the regular budgetary process. The following additional or altered goals, standards, and procedures shall apply relative to such road maintenance programs:
(A) A portion of the accumulated earnings from the Fund shall be appropriated annually by the Common Council for road maintenance programs.
(B) The amount of such annual appropriation for road maintenance programs shall be determined by the Common Council, after the Expenditure Review Committee has submitted its report to the Mayor and the Common Council, and the Mayor has submitted to the Common Council the desired appropriation amount from the Fund for road maintenance programs.
(C) Monies appropriated for road maintenance programs shall not be subject to the otherwise existing repayment standard or the otherwise existing payment of interest on appropriated monies from the Fund, it being established that expenditures from the Fund for road maintenance programs shall be exempt from such repayment and interest payment standards.
(D) No appropriation of monies from the Fund for road maintenance programs shall cause the targeted growth rate for the Fund, set forth in § 33.505, to go unattained, on a regular and ongoing basis, though due to fluctuations in interest rates, during the course of any 12-month cycle, interest earnings on monies in the Fund may be adversely affected, which adverse impact, if any, shall be considered relative to future appropriations for road maintenance programs from the Fund by the Mayor, Common Council, and Expenditure Review Committee, so as to stabilize and restore the desired target growth rate(s).
(E) Appropriations from the Fund for road maintenance programs shall not require the documentation contemplated by § 33.506.
(Ord. 5086, passed 12-17-2007)