3.24.030   Capital outlay fund.
   The purpose of the capital outlay fund shall be to provide for the accumulation of funds for capital outlays. It shall be the repository of all moneys raised by tax levy for the designated purpose of financing capital outlays, and also moneys transferred thereto from other funds by order of the city council. Such fund shall be restricted in use to payment of capital outlays but, except for the city's waterworks and system, shall not be used for public utility acquisition or improvement.
(Prior code § 2.12.070 (Ord. 506 § 5(b), 1961))