Chapter 3.24
CURRENT EXPENSE AND INDEBTEDNESS FUNDS
Sections:
3.24.030 General or current expense fund.
3.24.010 Funds created.
There are created and established, pursuant to the laws of the state, two separate and distinct funds for the city, one fund to be designated as the current expense fund and the other to be designated as the indebtedness fund. (Ord. 2009-036 § 1; Ord. 39 § 1, 1916)
3.24.020 Indebtedness fund.
All money collected from the taxes levied for the payment of indebtedness shall on and after February 1, 1916, be credited and applied to the indebtedness fund. The indebtedness fund shall be used for the payment of all indebtedness of the city existing prior to February 1, 1916, and all outstanding warrants of the city drawn prior to February 1, 1916, shall be payable out of the indebtedness fund. (Ord. 2009-036 § 1; Ord. 39 § 2, 1916)
3.24.030 General or current expense fund.
All money collected from the taxes levied for the payment of current expenses must be credited and applied to the current expense fund, also called the general fund, and that all money collected from all licenses, police court fines, or other receipts coming into the finance office, except indebtedness fund taxes, are credited and applied to the current expense fund. All current expenses incurred by the city will be on checks drawn only upon the current expense fund. (Ord. 2022-007 § 4 (Exh. B); Ord. 2009-036 § 1; Ord. 39 § 3, 1916)