Chapter 3.20
GENERAL CONTINGENCY FUND
Sections:
3.20.040 Investments not restricted.
3.20.010 Established.
Fund No. 109, general contingency fund, shall be established for the purpose of holding moneys to be spent for unforeseen expenses and/or emergencies. (Ord. 313 § 1, 1977).
3.20.020 Withdrawal of funds.
Moneys shall be withdrawn from the general contingency fund only by authorization of city council through a budget amendment, adopted by a majority vote of entire city council, said amendment clearly stating facts constituting the reasons for withdrawal or emergency, as the case may be, and the fund to which withdrawn money will be transferred. (Ord. 313 § 2, 1977).
3.20.030 Deposit amount.
Three thousand dollars is authorized to be used from cash on hand of the current expense fund at the beginning of 1977 to establish Fund No. 109, general contingency fund, and the 1977 budget is amended to reflect the new fund and appropriate amount designated in this section for the fund. (Ord. 313 § 3, 1977).
3.20.040 Investments not restricted.
Nothing in this chapter shall preclude moneys in the general contingency fund from being withdrawn for investment purposes in accordance with Chapter 3.04 NPMC, the invested amount and interest being credited to the general contingency fund at the time of sale of investment. (Ord. 313 § 4, 1977).