To comply with the provisions of Cal. Streets and Highways Code § 2113 and to avail the city of the benefits of Cal. Streets and Highways Code §§ 2100 et seq., there is hereby created in the City Treasury a special fund to be known as the “Special Gas Tax Street Improvement Fund”.
(A) Moneys included. All monies received by the city from the state under the provisions of the Streets and Highways Code for the acquisition of real property, or interests therein, for engineering, or for the construction, maintenance and improvement of streets or highways by the city shall be paid into the Fund.
(B) Expenditures. All moneys in the Fund shall be expended exclusively for the purposes authorized by and subject to the provisions of Cal. Streets and Highways Code §§ 2106 through 2116, as those may be amended from time to time.
(Ord. 2008-05, passed 10-1-2008)