Chapter 3.32
CUMULATIVE RESERVE FOR CURRENT EXPENSE
Sections:
3.32.010 Established – Purpose.
3.32.030 Accumulation – Expenditures.
3.32.010 Established – Purpose.
There is created and established in the treasury of the city a special fund to be known as the “cumulative reserve for current expense.” The fund is created to provide funds to any improvement or to meet any emergency that may arise in the current expense fund or any other tax-supported fund of the city. (Ord. 1319 § 1, 1970; prior code § 1-3101)
3.32.020 Deposits.
There shall be transferred to and held in the cumulative reserve for current expense the moneys budgeted annually for the purposes for which the fund is created by this chapter, as well as any funds otherwise made available for the fund. (Ord. 1319 § 1, 1970; prior code § 1-3101)
3.32.030 Accumulation – Expenditures.
The moneys in the cumulative reserve for current expense may be allowed to accumulate from year to year and may be expended at such times and in such portions as the city council determines; provided, that the moneys in the fund shall not be expended for any purpose other than specified in this chapter, except as provided by law. (Ord. 1319 § 1, 1970; prior code § 1-3101)