There is hereby created and established a special fund to be known and designated as the "equipment rental and revolving fund," to be used as a revolving fund to be expended for the repair, replacement, purchase, and operation of motor vehicle equipment, and for the purchase of equipment, materials and supplies to be used in the administration and operation of the fund.
(Ord. 1322 § 1(part), 2017)
The equipment rental and revolving fund shall be administered by the director of public works (the "director") under the direction of the mayor.  The city's clerk/treasurer shall keep such books, accounts and records relating to each individual piece of equipment as may be necessary to control and report the financial operations of the equipment rental and revolving fund.
(Ord. 1322 § 1(part), 2017)
All motor vehicle equipment, parts, accessories and supplies therefor of all departments of the city shall be deemed to be owned by, and shall be maintained by, the equipment rental and revolving fund.
(Ord. 1322 § 1(part), 2017)
The charges to be paid into the equipment rental and revolving fund by the various departments of the city renting motor vehicle equipment from said fund shall be fixed in the annual budget of the city.
(Ord. 1322 § 1(part), 2017)
Any withdrawals or expenditures from the equipment rental and revolving fund shall be made only in the following manner:
A. 
Expenditures for the operations and maintenance shall be made only upon duly approved vouchers of the city for the purposes of paying the costs necessary to operate and maintain all motor vehicle equipment owned by the equipment rental and revolving fund.
B. 
Expenditures for purchasing and replacement of equipment shall be made only upon duly approved vouchers of the city for the purposes of paying the costs of purchasing new equipment and replacing used equipment as required to carry out the purpose of the equipment rental and revolving fund.
(Ord. 1322 § 1(part), 2017)
A. 
All money deposited in the equipment rental and revolving fund and not expended as provided herein shall remain in said fund from year to year and shall not be transferred to any other fund or expended for any other purpose whatsoever except as provided herein.
B. 
Any unexpended funds in operations and maintenance standing to the credit of any department at the end of the budget year may be transferred to the credit of said department for purchase and replacement; provided, however, any money not needed therein may from time to time be transferred by appropriate action of the city council to the parent fund contributing said money.
(Ord. 1322 § 1(part), 2017)
In the event of the dissolution and abolishment of the equipment rental and revolving fund by subsequent action of the city council, then all money deposited therein shall revert to and be deposited in the several departments participating in the equipment rental and revolving fund.
(Ord. 1322 § 1(part), 2017)