Chapter 4.20
FUNDS
Sections:
4.20.020 Deposits of street fund.
4.20.030 Arterial street fund created.
4.20.040 Contributions of arterial street fund.
4.20.050 Expenditures of arterial street fund.
4.20.060 Cumulative reserve fund.
4.20.070 Sewer reserve account.
4.20.080 Sewer short lived asset reserve account.
4.20.010 Street fund created.
The creation of the city street fund is made to pay for all the expenditures for alterations, construction, repairs and maintenance of the city streets, replacing the highway fund now in use.
4.20.020 Deposits of street fund.
The deposits of all receipts for proper street purposes shall be deposited in the new fund.
4.20.030 Arterial street fund created.
There is created a fund to be known as the arterial street fund, pursuant to RCW 47.24.046, as now exists or as may be hereafter amended.
4.20.040 Contributions of arterial street fund.
The arterial street fund shall be credited with all applicable state gas tax allocated to the city, funds contributed by the city and any other funds that may from time to time be authorized to be placed therein.
4.20.050 Expenditures of arterial street fund.
The arterial street fund shall be used exclusively for the construction, improvement and repair of the arterial streets in the city, and all expenditures from the fund shall be made in accordance with the provisions of the laws of the state.
4.20.060 Cumulative reserve fund.
There is hereby created pursuant to Washington State law a separate fund designated the cumulative reserve fund into which all funds as might be received by the city of Rock Island from whatever source may be deposited pursuant to the direction of the city council of the city of Rock Island; said fund shall be for the purpose of providing capital funding assistance to funds which have an urgent need that cannot be met from that fund’s own resources. (Ord. 95-011 § 1).
4.20.070 Sewer reserve account.
There is hereby established a sewer reserve account for purposes of complying with the United States Department of Agriculture Rural Development general loan and grant conditions and the city clerk/treasurer shall deposit into said fund amounts sufficient to satisfy those conditions. (Ord. 13-128 § 1).
4.20.080 Sewer short lived asset reserve account.
There is hereby established a sewer short lived asset reserve account for purposes of complying with the United States Department of Agriculture Rural Development general loan and grant conditions and the city clerk/treasurer shall deposit into said fund amounts sufficient to satisfy those conditions. (Ord. 13-128 § 1).