Chapter 3.32


3.32.010    Established – Source of funds.

3.32.020    Accumulation permitted – City direction – Permit.

3.32.010 Established – Source of funds.

There is created a fund, to be designated as the cumulative reserve fund for general governmental purposes, into which shall be placed such monies as the city council may from time to time direct. [Ord. 307 § 6, 1979].

3.32.020 Accumulation permitted – City direction – Permit.

A. The monies deposited in the cumulative reserve fund for general governmental purposes shall be allowed to accumulate from year to year.

B. The monies may be expended from time to time as the city council shall direct, but only for certain specific municipal purposes as follows:

1. The purchase of supplies and materials or equipment;

2. The payment of salaries or wages to city employees;

3. The acquisition of real property for any municipal purpose;

4. The payment of general governmental expenditures;

5. The making of any public improvement;

6. The investigations and studies in connection with any public improvements or other municipal purpose; and

7. The matching of federal or state funds for any of the foregoing or any other municipal purpose. [Ord. 26-99 § 1, 1999; Ord. 307 § 6(a), 1979].