Pursuant to the provisions of Sections 53730 through 53737 of
the Government Code of the state, and subject to the limitations therein
stated, there is hereby created in the city treasury a special fund
for capital outlays to be known as the capital improvement fund.
(Ord. 1744 § 1, 2002)
Expenditures from the capital improvement fund shall be made
only for capital improvements within the city, and no money shall
be disbursed therefrom except for such purpose.
Capital improvements as used herein shall not include construction,
replacement, extension of, or addition to, the city's domestic water
system or the acquisition of capital assets by the city's domestic
water system.
(Ord. 1744 § 2, 2002)
Pursuant to applicable provisions of the California Government
Code, the city council is hereby empowered and may levy and collect
assessments or taxes for the purpose of making capital improvements;
provided, however, that no levy for such purpose shall exceed the
limitation upon the right of the council to impose taxes as may be
prescribed by the general laws of the state of California without
the assent of two-thirds of the qualified electors of the city voting
at any general or special election at which such proposition may be
submitted.
(Ord. 1744 § 3, 2002)
At any time after the creation of the capital improvement fund,
the council may transfer to such fund any unencumbered surplus funds
remaining on hand at the end of any fiscal year.
(Ord. 1744 § 4, 2002)
