There is hereby created in the City Treasury a fund to be known as the Santa Clarita Article 8 Fund.
(Ord. 88-25, 6/23/1988)
There shall be deposited into this fund from time to time those funds received from Los Angeles County Transportation Commission that are identified by LACTC as Article 8 Funds. Any interest earnings resulting from the investment of the moneys in this fund shall be deposited in this fund.
(Ord. 88-25, 6/23/1988)
All expenditures made from this fund shall be made only for purposes approved by LACTC as approved uses of Article 8 Funds. All expenditures shall be in the form of an interfund transfer to the General Fund and as shall be in accordance with all budget procedures and regulations approved by Council.
(Ord. 88-25, 6/23/1988)