There is hereby created in the treasury of the city a fund to be known as the capital equipment fund.
(Ord. 1746 § 1, 2002)
Expenditures from the capital equipment fund shall be made only for the acquisition of new or replacement vehicles, computer equipment or communications equipment assigned to various departments and/or functions of the city.
(Ord. 1746 § 2, 2002)
The capital equipment fund shall be initially funded by transferring to it the existing balance of the general services fund after which it shall be funded in amounts derived through charging equipment users an annual fee sufficient to recover the depreciation cost of equipment acquired by the fund based on the anticipated useful life of the equipment and such through such sums as the council may from time to time appropriate.
The director of finance is hereby authorized to transfer to the capital equipment fund from the general fund or from other funds of the city such amounts as are included in the budget adopted by the city council to reflect the depreciation of vehicles, computer equipment and communications equipment acquired by the fund and used by the various departments and/or functions of the city.
(Ord. 1746 § 3, 2002)
Expenditures from the capital equipment fund may be authorized by the city council through adoption of the city's annual budget or by supplemental appropriation.
(Ord. 1746 § 4, 2002)