(A) Not more than 10% of any fiscal year's total budget shall be transferred into the Rainy Day Fund.
(B) It is the intent of the Common Council in creating the Rainy Day Fund that such fund is used only to help defray the cost of legal and legitimate governmental services for the citizens of the city.
(C) The Rainy Day Fund shall be subject to the same appropriation process as other funds that receive tax money. In addition, the Common Council shall make a finding that the proposed use of the Rainy Day Fund is consistent with the intent of the fund before making an appropriation therefrom.
(Ord. 3568, passed 3-2-09)