In accordance with Section 5 of Article XIIB of the California Constitution, the County shall establish the Economic Development Revolving Fund. Contributions by the County to the Economic Development Revolving Fund, to the extent derived from the proceeds of taxes, shall constitute appropriations subject to the appropriations limitation contained in Article XIIB of the California Constitution.
Revenues, as defined by this Division, and the expenditures of such revenues, shall not be taken into account in any manner in determining the County’s compliance with Article XIIB of the California Constitution.
(Ord. 4316, passed - -2017)