Chapter 3.75
CAPITAL EQUIPMENT PURCHASE FUND
Sections:
3.75.010 Established.
3.75.020 Purpose.
3.75.030 Record keeping.
3.75.040 Receipts.
3.75.010 Established.
There is hereby established as a separate fund within the town budget of the town of Twisp, a fund to be accumulated as herein provided, and expenditures from which shall be made solely and exclusively to pay the purchase price, or portions of the purchase price, of machinery and/or equipment for the use of the town, and its several departments, in the performance of municipal functions and purposes. Said fund is hereby designated, and shall be known as, “town of Twisp capital equipment purchase fund.” (Ord. 275 § 1, 1982)
3.75.020 Purpose.
No expenditure from the monies accumulated and deposited to the credit of said fund shall be made or authorized except for the purpose of purchasing, or to pay a portion of the purchase price, of machinery and/or equipment for the use of the town, and its several departments. Equipment and/or machinery which may be purchased, in whole or in part, with the monies available in the fund established by this chapter, shall be limited and confined to equipment and/or machinery requiring a “capital expenditure,” that is, equipment and/or machinery the purchase of which may be authorized only after sealed bids have been called, received, and accepted in accordance with, and pursuant to, the statutes of the state of Washington as now in force, or as hereafter amended. (Ord. 275 § 2, 1982)
3.75.030 Record keeping.
Receipts and disbursements from the fund hereby established shall be made and record thereof kept and maintained as a separate fund within the town budget of the town of Twisp, and shall not be commingled with other funds of the town, nor used for any other purpose, or purposes, except those specified herein. (Ord. 275 § 3, 1982)
3.75.040 Receipts.
Receipts credited to said fund shall consist of (1) the amounts which shall be provided therefor by the town council in the annual town budget, or amendments thereof; and (2) the proceeds from the sale of machinery and/or equipment of the town as such sales may from time to time be authorized by the town council pursuant to the statutes governing the sale and disposition of town property. (Ord. 275 § 4, 1982)