There is established in the office of clerk-treasurer a special fund to be known and designated as the "contingency fund".
(Ord. 775 § 1, 1996)
The contingency fund shall be supported by a budgetary appropriation from any tax or revenue service not restricted to any use by law, and may also be supported by a transfer from any other unexpended or decreased fund made available by ordinance; provided, that the total amount accumulated in such fund at any time shall not exceed the equivalent of $0.375 per $1,000 of assessed valuation of property within the city at the time. Any moneys in the contingency fund at the end of the fiscal year shall not lapse except upon reappropriation by the city council to another fund in the adoption of a subsequent city budget.
(Ord. 775 § 1, 1996)
No money shall be withdrawn from the contingency fund except by transfer to an appropriate operating fund authorized by ordinance of the city council, clearly stating the facts constituting the reason for the withdrawal or the emergency as the case may be and specifying the fund to which the withdrawn money shall be transferred.
(Ord. 775 § 1, 1996)