Chapter 3.08
CONTINGENCY FUND*
Sections:
3.08.020 Maintained by council.
3.08.030 Transfers from other funds authorized.
*For statutory authority for towns to establish contingency funds, see RCW 35.33.121.
3.08.010 Established.
There is established for the city a contingency fund designated and to be known as the “contingency fund.” (Ord. 142 § 1, 1972).
3.08.020 Maintained by council.
The fund shall be maintained in such amount as the council of the city from time to time sets forth in the final budget of the city for the year 1973, and for each succeeding year thereafter. (Ord. 142 § 2, 1972).
3.08.030 Transfers from other funds authorized.
The fund may also be supported by transfers authorized by the council of the city from other unexpended or decreased funds made available by ordinance of the council of the city as set forth in RCW 35.33.121. (Ord. 142 § 3, 1972).
3.08.040 Amount limited.
The total amount accumulated in such fund shall at no time exceed the equivalent of one and one-half mills on each dollar of assessed valuation of property within the city. (Ord. 142 § 4, 1972).
3.08.050 Expenditures.
The expenditure of moneys from such fund shall be as determined from time to time by action of the council of the city in accordance with the requirements set forth in RCW 35.33.145. (Ord. 142 § 5, 1972).