§ 18-29 SAME — REMEDY BY COUNCIL.

   After hearing from all persons interested in the matter and receiving such other information as the Council deems appropriate, the Council may affirm or remand the decision with directions that it be reconsidered, after examination of the new information obtained. If the Council is persuaded that the decision under review is not likely to serve the best interests of the City of Flint, the decision shall be modified accordingly and shall stand, as modified, as a decision of the City of Flint.

(Ord. 2858, passed 10-25-1982)

ARTICLE VIII. COUNTERCYCLICAL BUDGET AND ECONOMIC STABILIZATION FUND

§ 18-30 CREATED.

   (a)   A Countercyclical Budget and Economic Stabilization Fund is created to assist in stabilizing revenue and employment during periods of economic recession and high unemployment.

   (b)   As used in §§ 18-30 to 18-34, FUND means the Countercyclical Budget and Economic Stabilization Fund.

(Ord. 2983, passed 3-24-1986)

§ 18-31 APPROPRIATION FOR FUND.

   Each fiscal year the City Council may appropriate all or part of a surplus in the General Fund resulting from an excess of revenue in comparison to the General Fund expenses, to the fund.

(Ord. 2983, passed 3-24-1986)

§ 18-32 LIMITATION ON AMOUNT OF MONEY IN FUND.

   (a)   The amount of money in the fund shall not exceed either fifteen percent (15%) of the City’s most recent General Fund budget, as originally adopted, or fifteen percent (15%) of the average of the City’s most recent General Fund budgets, as amended, whichever is less.

   (b)   The money in the fund shall be invested as provided by law with the earnings of the fund to be returned to the City’s General Fund.

   (c)   If the money in the fund exceeds that permitted in subsection (a), the excess shall be appropriated in the City’s next General Fund budget, but shall not be appropriated to the fund.

(Ord. 2983, passed 3-24-1986)