Chapter 3.34
CUMULATIVE RESERVE FOR LIGHT DEPARTMENT
Sections:
3.34.040 Accumulation and expenditure of moneys.
3.34.010 Fund established.
There is created and established in the treasury of the city a special fund to be known as the “cumulative reserve for light department.” (Ord. 1482 § 1, 1977; Ord. 1158 § 1, 1960; prior code § 3-220)
3.34.020 Purpose.
The cumulative reserve for light department is created to provide funds for any improvement or to meet any emergency that may arise in the light department fund or any other tax-supported fund of the city. (Ord. 1482 § 1, 1977; Ord. 1158 § 1, 1960; prior code § 3-220)
3.34.030 Deposits.
There shall be transferred to and held in the cumulative reserve for light department the moneys budgeted annually for the purposes for which the fund is created, as well as any funds otherwise made available for it. (Ord. 1482 § 1, 1977; Ord. 1158 § 1, 1960; prior code § 3-220)
3.34.040 Accumulation and expenditure of moneys.
The moneys in the cumulative reserve for light department 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 as specified in this chapter, except as provided by law. (Ord. 1482 § 1, 1977; Ord. 1158 § 1, 1960; prior code § 3-220)