(A) Fund created. The City Council does hereby create the “Malta Capital Improvement Program Fund” for the purpose of replacement and acquisition of property, plant or equipment costing in excess of $5,000, with a life expectancy of five years or more, as authorized by M.C.A. § 7-6-616.
(Prior Code, § 3.16.010)
(B) Allocation. The City Council, by resolution, determines the purpose of capital improvement program funds and will, by resolution, determine the amount of funds to be allocated to the Capital Improvement Program Fund.
(Prior Code, § 3.16.020)
(C) Warrants. Warrants drawn against the city’s Capital Improvement Program Fund will be made in the excess of $5,000 for the replacement of property, plant or equipment with a life expectancy of five years or more.
(Prior Code, § 3.16.030)
(Ord. 374, passed - -1989)