The moneys in the city hall building reserve fund shall be allowed to accumulate until the city council determines, either through budget hearings or resolution, to expend said moneys for the purpose of expansion and/or replacement of the city hall building; provided, further, that any moneys in the city hall building reserve shall never be expended for any other purpose than that specified above without a duly advertised public hearing stating the time, place and purpose of the expenditure.
WHEREAS, recognizing, in the event of a declared emergency by the city council, the money in said city hall building reserve may be borrowed to negate the declared emergency; provided, further, that any and all moneys borrowed shall be repaid in three annual payments beginning in the next fiscal year following the declared emergency.
(Ord. 482 § 3, 1985).