Chapter 3.40
CUMULATIVE RESERVE FOR STREETS
Sections:
3.40.040 Accumulation of moneys – Expenditures.
3.40.010 Established.
There is created and established in the treasury of the city a special fund to be known as the “cumulative reserve for streets.” (Ord. 1435 § 1, 1975; prior code § 1-3401)
3.40.020 Purpose.
The cumulative reserve for streets is created to provide funds for construction, for matching funds for private construction or to meet any emergency that may arise in the street fund of the city. (Ord. 1435 § 1, 1975; prior code § 1-3401)
3.40.030 Revenues for fund.
There shall be transferred to and held in the cumulative reserve for streets 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. 1435 § 1, 1975; prior code § 1-3401)
3.40.040 Accumulation of moneys – Expenditures.
The moneys in the cumulative reserve for streets may be allowed to accumulate from year to year and may be expended at such times and in such portions as the city council shall determine; 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. 1435 § 1, 1975; prior code § 1-3401)