[§ 218, L.L. No. 4-1925; L.L. No. 28-1928; L.L. No. 6-1942; c. 710, L. 1943 (effective 4-2-1945)]
The local improvement fund is continued with the moneys contained therein. There shall be placed to the credit of said fund the proceeds of the sale of all bonds and notes issued for or on account of local improvements. There shall also be placed to the credit of said fund all amounts received by the City Treasurer from assessments and charges for local improvements, including all interest collected thereon, which said amounts may be appropriated to other purposes only by way of reimbursement to any other fund including the general fund when indebtedness chargeable to such local improvement fund has been paid from such other fund. There must be paid therefrom all bonds and notes heretofore or hereafter issued for or on account of local improvements and the interest thereon, except insofar as provision may have been made for such payment from other sources, and all costs and expenses of local improvements heretofore made and remaining unpaid, or hereafter made. The local improvement fund shall not be used to finance public improvements. All moneys due the local improvement fund because of assessments against the City at large or against city-owned property shall be paid into such fund within a year after the same shall become due.
In addition to such local improvement fund as now existing, the Council may by ordinance create one or more general or special local improvement funds for the purpose of financing local improvements authorized subsequent to January 1, 1928, including a fund to be used exclusively for the purpose of paying so much of the cost and expense of such local improvements as may be required by the ordinances assessing the same to be raised by assessment upon local property or territory. If bonds and notes are issued for or on account of such local improvements, their proceeds may be paid into any such fund and such bonds and notes may be paid therefrom. Any such ordinance may provide that amounts received or assessments and the interest thereon or representing the City's share shall be paid into any such fund and that the costs and expenses of any such local improvements shall be paid therefrom.
[§ 1, L.L. No. 9-1993; § 1, L.L. No. 7-2011]
The Retirement Reserve Fund is continued with the moneys contained therein. Payments from such fund, including any income and interest earned, shall be made solely for debt service on bonds funding retirement payments for City employees and the payment of retirement costs of City employees.
Editor's Note: Former § 6-42, Library Building Fund, § 409, c. 755, L. 1907, added by c. 121, L. 1914; L.L. No. 4-1925; L.L. No. 5-1974, was repealed by L.L. No. 2-1989.
[§ 219, L.L. No. 4-1925; L.L. No. 5-1974]
The Council may create in any department, bureau, division, office, commission, court or board, from moneys appropriated in the annual appropriation ordinance, an emergency fund not exceeding the sum of $1,000, which sum may be expended in such manner as the Council may prescribe. Reimbursement claim vouchers must be presented to the Director of Finance for all moneys expended from such funds and shall be audited in the same manner as other claim vouchers. The Director of Finance shall cause an audit to be made in each month of all emergency funds created.
[§ 224-a, L.L. No. 4-1925, as added by L.L. No. 3-1946; L.L. No, 8-1977; repealed by L.L. No. 6-1979]
[§ 222, L.L. No. 4-1925; L.L. No. 5-1974; § 1 L.L. No. 11-2011]
The Director of Finance has the investment and management of the Police and Fire Pension Funds and of all sinking funds, and may, with the approval of the Council, invest the funds thereof in bonds and notes of the City and other securities.
[§ 163, c. 755, L. 1907: c. 526, L. 1921; L.L. No. 5-1974]
The Treasurer is the custodian of the Police Pension Fund, Fire Pension Fund and Teachers' Retirement Fund; and all pensions granted in pursuance of the provisions of this act and payable from any of said funds must be paid out on a check or draft signed by the Treasurer and countersigned by the Director of Finance. The Treasurer must, upon due authorization, pay out at any time any part or the whole of the Teachers' Retirement Fund to the state or any agency thereof having the management of a state retirement or pension fund for teachers, pursuant to any law now or hereafter enacted, and any such payments must be paid out on a check or draft signed by the Treasurer and countersigned by the Director of Finance.
[§ 233, L.L. No. 4-1925; repealed by § 1, L.L. No. 9-1984]
Editor's Note: This local law was approved at referendum 11-6-1984 and took effect 1-1-1986.
[§ 217, L.L. No. 4-1925; L.L. No. 5-1974]
The Director of Finance shall determine actuarially the amounts necessary to retire at maturity all outstanding term bonds other than local improvement bonds and shall report the same to the Council. In each annual appropriation ordinance, the Council shall appropriate the amounts or percentages heretofore required to be paid into the several sinking funds and such additional amounts, if any, necessary to provide funds sufficient to retire all term bonds at maturity.
Bonds heretofore issued to provide money for the local improvement fund, for which no sinking funds have been established, may be refunded in whole or in part at maturity if the local improvement fund contains insufficient moneys to pay them. Any such issue of refunding bonds shall extend over a period not exceeding 20 years and shall be of the serial type.
[§ 169, c. 755, L. 1907, added by L.L. No. 3-1960; repealed by L.L. No. 6-1979]
[Added by § 2, L.L. No. 4-1967]
There is hereby established a Capital Fund which shall be used to account for capital improvements financed from capital authorizations transferred from the general and other funds, proceeds or obligations and capital reserve funds. A capital appropriation contained in the operating budget shall be transferred to the Capital Fund and shall continue in force until the purposes for which it was made shall have been accomplished or abandoned.
[§ 224, L.L. No. 4-1925; L.L. No. 4-1942; L.L. No. 7-1942; L.L. No. 3-1946; L.L. No. 2-1950; L.L. No. 7-1950; L.L. No. 5-1974; L.L. No. 8-1977; § 1, L.L. No. 6-1979; § 1, L.L. No. 6-1985]
There is hereby established a Water Enterprise Fund which shall receive the revenues of the Water Bureau and shall apply those revenues as follows: first, to the payment of principal and interest on bonds, notes and other indebtedness incurred on account of the waterworks; second, to the maintenance, operation and extension of the waterworks; third, to the payment to the City of Rochester of an amount equivalent to taxes which said waterworks would pay to the City if privately owned; fourth, to the payment to the City of Rochester, as a fair return on the City's investment, of an amount equivalent to 6% of the value of the property used and useful for waterworks purposes, or as much thereof as may be earned; and fifth, the balance, if any, shall be retained in the Water Enterprise Fund and be subject to appropriations by the Council for waterworks purposes.
Notwithstanding the foregoing, there shall be a contingency reserve within the Water Enterprise Fund to be used for emergency operations and maintenance and repair of the waterworks in an amount not less than $100,000. The contingency reserve shall be used only upon appropriation by Council. When such an appropriation is made, the contingency reserve shall be replenished to the minimum required balance through operating revenues after payment of waterworks indebtedness and through general appropriations at the beginning of the next fiscal year, if necessary.
The Director of Finance shall have the authority to invest moneys of the Water Enterprise Fund and its contingency reserve in such securities as may be authorized by local, state or federal law.
[§ 225, L.L. No. 4-1925; L.L. No. 3-1942; L.L. No. 1-1956; § 3, L.L. No. 6-1979]
There is hereby established a Public Market Enterprise Fund which shall receive the revenues from the operation of the public market or markets, and which revenues shall be applied as follows: first, to the payment of principal and interest on bonds, notes and other public market indebtedness; and second, to the maintenance, operation and extension of the public market or markets. Council shall have the authority to appropriate additional funds as required for the operation of the public market and repairs or improvements thereto and may transfer to the general fund public market revenues in excess of expenses after allowing a sufficient reserve to be retained in the Public Market Enterprise Fund.
[§ 229, L.L. No. 4-1925, as added by L.L. No. 4-1938]
All revenues of utilities owned and/or operated by the City shall, except as otherwise provided by law, be applied to the maintenance, operation and development and extension of the utility from which derived.
[§ 208, L.L. No. 4-1925 repealed and new § 208 added by L.L. No. 17-1956; § 6, L.L. No. 6-1979; § 2, L.L. No. 11-2011]
There is hereby established a Cemetery Enterprise Fund which shall receive the revenues derived from the operation of the Mount Hope and Riverside Cemeteries and from the City operating budget as required, and such revenues shall be applied as follows: first, to the payment of principal and interest on bonds, notes and other indebtedness incurred on account of the cemeteries; second, to the establishment within the Cemetery Enterprise Fund of a reserve in the manner and for the purposes set forth below; and third, to the maintenance and operation of the cemeteries. The Council may from time to time appropriate funds to the Cemetery Enterprise Fund to supplement operating revenues.
[L.L. No. 7-1977; § 7, L.L. No. 6-1979]
There is hereby established a Port of Rochester Enterprise Fund which shall receive the revenues of the Port of Rochester and shall apply those revenues as follows: first, to the payment of interest and principal on bonds, notes and other port indebtedness; second, to the maintenance, operation and extension of the port; and third, to the retention within the Port of Rochester Enterprise Fund of a reserve for extraordinary and nonrecurring expenses and for building and facility construction and renovation.