Chapter 3.16
CURRENT EXPENSE FUND AND INDEBTEDNESS FUND
Sections:
3.16.010 Current expense fund established.
3.16.020 Indebtedness fund established.
3.16.030 Statement of indebtedness.
3.16.060 Moneys to indebtedness fund.
3.16.010 Current expense fund established.
There is hereby created and established in the city treasury a fund to be known and designated as the “current expense fund,” and all moneys collected from licenses for the sale of intoxicating liquors, and from all other licenses, and from fines shall be credited and applied by the city treasurer to the current expense fund, and all warrants drawn in payment of current expenses as herein defined shall be drawn on the current expense fund. (Town Ord. 4 § 1, 1899)
3.16.020 Indebtedness fund established.
There is hereby created and established in the city treasury a fund to be known and designated as the “indebtedness fund” and all warrants drawn in payment of the indebtedness of the city, other than current expenses as herein defined and not otherwise specifically provided for by special fund, shall be drawn on the indebtedness fund. (Town Ord. 4 § 2, 1899)
3.16.030 Statement of indebtedness.
As soon as the clerk receives his annual notice of the total assessed valuation of the property situate in the city as equalized by the state board, he shall immediately each year make out and prepare a statement of the indebtedness of the city, and shall submit the same to the council at their next regular meeting, which statement shall be subject to the approval, by majority vote of the council, and such statement, when so approved, shall be entered upon the minutes of the proceedings of the meeting. (Town Ord. 4 § 3, 1899)
3.16.040 Tax levy.
At the same meeting of the council mentioned in Section 3.16.020, and as soon as the statement of the clerk therein mentioned shall be approved by the council, the council shall levy a tax for the payment of current expenses not exceeding ten mills on the dollar, which tax, when collected, shall be turned into and applied to the current expense fund, and the levy shall be based upon an estimate of the current expenses for the ensuing year, which estimate shall be adopted by a majority vote of the councilmen present at the meeting and be entered in the record of proceedings of the council. In making the estimate the probable revenue from licenses, and all other sources other than taxes shall be taken into consideration, and such levy shall not exceed twenty percent of the amount of such estimate. (Town Ord. 4 § 4, 1899)
3.16.050 Current expenses.
Current expenses shall be deemed to include all salaries and the expenses of the various departments of the city government, the making of repairs to, and the improvement of all streets and sidewalks (except improvements the cost of which is to be assessed against any specific property), the making and improvement of sewers, and all other expenses incurred in maintaining the corporation, and its government in accordance with the laws of this state pertaining thereto and the needs of its inhabitants. (Town Ord. 4 § 5, 1899)
3.16.060 Moneys to indebtedness fund.
At the same meeting, and after the statement of the clerk mentioned in Section 3.16.030 has been approved, the city council shall levy a tax for the payment of any indebtedness of the city other than current expenses as herein defined (in case the statement shall show that any such indebtedness exists), which levy shall not exceed six mills on the dollar of the assessed value of the property of the city as shown by the assessment thereof for the year, and all moneys collected from such levy shall be paid into and applied to the indebtedness fund and the levy shall be based upon the statement of the clerk mentioned in Section 3.16.030, and in making the levy consideration shall be had of all outstanding warrants, certificates and all other obligations, and indebtedness of the city including accrued interest thereon for the payment of which no provision is made by law by the levy of any special tax or assessment; provided that, when all of the indebtedness of the city for which the indebtedness fund is liable shall have been paid, the council may order the transfer of any surplus remaining therein to the current expense fund. (Town Ord. 4 § 6, 1899)