[HISTORY: Adopted by the City Council of the City of Butler 2-19-1987
as Part 1, Title 1, Art. 110, of the 1987 Codified Ordinances. Amendments
noted where applicable.]
A.
A fund is hereby created as the Capital Reserve Fund
of the city, such fund to be used for anticipated capital expenditures at
the direction of Council.
B.
Moneys in the fund shall be used from time to time for
and on account of:
(1)
The construction, purchase or replacement of or addition
to municipal buildings, equipment, machinery, motor vehicles or other capital
assets.
(2)
The construction, reconstruction and replacement of highways,
underpasses, overpasses and highway facilities.
(3)
Refuse disposal facilities.
(4)
Bridges, road improvements, sidewalks, general government
buildings, parks, swimming pools and other recreational facilities, public
safety facilities, including but not limited to street lighting, fire alarm
systems, traffic signals.
(5)
The purchase of general real or personal property, independently
or in conjunction with any urban renewal or redevelopment program or project
authorized by the City and the preparation and/or improvement of such real
or personal property for any legal purpose.
C.
Moneys for the fund may be appropriated from the general
funds of the city or from any other source authorized by the Third Class City
Code[1] or other applicable law pertaining to the same, and any moneys
in the fund when invested shall be invested in securities as prescribed by
law as legal investments for sinking funds for the city.
[1]
Editor's Note: See 53 P.S. § 35101 et seq.
D.
The Director of Accounts and Finance shall cause to be
prepared a capital reserve budget consisting of anticipated revenues and/or
capital improvement appropriations and shall cause the same to be presented
to council for approval.
A.
A fund is hereby created in the Department of Accounts
and Finance to be known as the "Capital Improvement Fund of the City."
B.
In order that the fund can be financed and budgeted,
money may be received and deposited in the fund from a variety of sources
such as bonds, general fund appropriations, other fund transfers, earmarked
taxes and any other source as may be now or hereafter authorized by law.
C.
The Director of Accounts and Finance shall cause to be
prepared a capital budget consisting of anticipated revenues or appropriations
and expenditures and shall cause the same to be presented to Council for approval.
