Pursuant to the authority granted in Sections 53730 through
53737 of the State Government Code, and subject to the limitations
therein stated, a fund is hereby created to provide for capital outlays
and to be known and designated as the "capital outlay fund."
(Prior code § 2.39)
Taxes may be levied upon the taxable property in the City for
the raising of moneys for additions to the capital outlay fund, but
no levy so made shall exceed the limitation imposed by the general
laws of the state upon the right of the City to impose taxes, subject
to the increase in such limitation adopted by the voters of the City.
(Prior code § 2.40)
The City Council may from time to time transfer to the capital
outlay fund any unencumbered surplus funds remaining on hand in the
City at the end of any fiscal year.
(Prior code § 2.41)
The capital outlay fund shall remain inviolate for the making
of any capital outlays as may from time to time be designated by the
City Council, and no money shall be disbursed therefrom except for
such a purpose without the consent of the electors as provided in
Section 53736 of the State Government Code.
(Prior code § 2.42)
