Chapter 3.50
CAPITAL DEVELOPMENT FUND

Sections:

3.50.010    Creating capital development fund.

3.50.020    Appropriation of monies.

3.50.030    Monies accumulation.

3.50.040    Repealed.

3.50.010 Creating capital development fund.

There is hereby created and established a fund known as the “capital development fund.” (Ord. 2093 § 1, 1996)

3.50.020 Appropriation of monies.

Into the capital development fund shall be placed monies appropriated or budgeted from time-to-time, and monies from the general fund above that directly budgeted for current year operations, which are determined reasonable and necessary for construction, alteration, or repair of any public building, or the making of any public improvement, including acquisition of real property, services, construction costs, as well as providing a source for matching funds for federal and state grants and interlocal agreements. (Ord. 2093 § 2, 1996)

3.50.030 Monies accumulation.

The monies in said funds may be allowed to accumulate from biennium to biennium until the city council shall determine to expend the monies in said fund for the purposes herein specified. (Ord. 2647 § 1, 2006; Ord. 2093 § 5, 1996)

3.50.040 Interest earnings.

Repealed by Ord. 2647. (Ord. 2093 § 6, 1996)