Chapter 3.52
CUMULATIVE RESERVE FUND – MUNICIPAL PURPOSES
Sections:
3.52.030 Expenditure authorization required.
3.52.010 Fund created.
There is hereby created a special fund to be designated, “cumulative reserve fund for municipal purposes.” (Ord. 188 § 1, 1961).
3.52.020 Use restricted.
All moneys in the fund provided for in OHMC 3.52.010 shall be used only for buying of supplies, materials or equipment for municipal purposes, for the construction, alteration or repair of any public building or work, or for the making of any public improvement. (Ord. 188 § 2, 1961).
3.52.030 Expenditure authorization required.
Expenditures from the fund provided for in OHMC 3.52.010 shall be made only by resolution of the council of the city of Oak Harbor. (Ord. 188 § 3, 1961).