Chapter 4.48
BUILDING FUND

Sections:

4.48.010    Established—Statutory authority—Purpose.

4.48.020    Taxes credited to fund.

4.48.030    Expenditures—Proposition required when.

4.48.040    Transfer of surplus funds to fund.

4.48.010 Established—Statutory authority—Purpose.

There is hereby established a building fund, under the provisions of Section 53731 of the Government Code of the State, for the purpose of financing future capital expenditures for the purchase of building sites and for the construction and equipping of public buildings in the County. [Ord. 507, 1956; prior code § 5.10.010].

4.48.020 Taxes credited to fund.

All taxes heretofore and hereafter assessed and levied upon property in the County of Santa Cruz for the accumulated building fund shall be paid over and credited to said fund. [Ord. 507, 1956; prior code § 5.10.020].

4.48.030 Expenditures—Proposition required when.

Except as provided in Section 25369 of the Government Code, the accumulated building fund shall remain inviolate for the making of any capital outlays, and money shall not be disbursed from the fund except for such a purpose unless the Board of Supervisors submits a proposition to the electors of the County to obtain their consent to use the money in the fund for some other specific purpose. The proposition may be submitted at any election, and a two-thirds vote of all the voters voting at the election is necessary to authorize the expenditure of the money in the fund for such other purpose. [Ord. 507, 1956; prior code § 5.10.040].

4.48.040 Transfer of surplus funds to fund.

At any time after the enactment of the ordinance codified in this chapter, the Board of Supervisors may transfer to the accumulated building fund any unencumbered surplus funds remaining on hand at the end of any fiscal year. [Ord. 507, 1956; prior code § 5.10.030].