There is created and established a cumulative reserve fund which shall be designated as a cumulative reserve fund for the payment of current expenses for city buildings, lands and fire stations. The moneys in such fund may be allowed to accumulate from year to year until the city council determines the need to expend the same for the purpose of paying current expenses for city buildings, city lands and fire stations; provided, that any moneys in such fund shall never be expended for any other purpose than that specified in this chapter, without an approving vote by a majority of the electors of the city at a general or special election voting on a proposal submitted to the electors to determine other specified uses to be made of the fund.
(Prior code § 1.76.010)
An item for the cumulative reserve fund set out in Section 3.48.010 of this chapter may be included in the annual budget of the city within the limits and as authorized by law, and the item may be repeated from year to year until in the judgment of the city council the amount required for the specified purpose has been raised or accumulated. Any moneys in the fund at the end of the fiscal year shall not lapse nor shall the same be a surplus available or which may be used for any other purpose than that specified except as provided in this chapter.
(Prior code § 1.76.020)
There is created and established a cumulative reserve fund which shall be designated as a cumulative reserve fund for development and maintenance of streets in the city. The moneys in the fund may be allowed to accumulate from year to year until the city council shall determine the need to expend the same for development and maintenance of streets in the city; provided, that any moneys in the fund shall never be expended for any other purpose than that specified in this chapter, without an approving vote by a majority of the electors of the city at a general or special election voting on a proposal submitted to the electors to determine other specified uses to be made of such fund.
(Prior code § 1.76.030)
An item for the cumulative reserve fund set out in Section 3.48.030 of this chapter, may be included in the annual budget of the city within the limits and as authorized by law, and such item may be repeated from year to year until in the judgment of the city council the amount required for the specified purpose has been raised or accumulated. Any moneys in such fund at the end of the fiscal year shall not lapse nor shall the same be a surplus available or which may be used for any other purpose than that specified except as herein provided.
(Prior code § 1.76.040)
There is created and established a cumulative reserve fund which shall be designated as a cumulative reserve fund for the maintenance and development of parks in the city. The moneys in such fund may be allowed to accumulate from year to year until the city council determines the need to expend the same for maintenance and development of parks in the city; provided, that any moneys in such fund shall never be expended for any other purpose than that specified in this chapter, without an approving vote by a majority of the electors of the city at a general or special election voting on a proposal submitted to the electors to determine other specified uses to be made of such fund.
(Prior code § 1.76.050)
An item for said cumulative reserve fund mentioned in Section 3.48.050 of this chapter may be included in the annual budget of the city within the limits and as authorized by law, and such item may be repeated from year to year until in the judgment of the city council the amount required for the specified purpose has been raised or accumulated. Any moneys in such fund at the end of the fiscal year shall not lapse nor shall the same be a surplus available or which may be used for any other purpose than that specified except as provided in this chapter.
(Prior code § 1.76.060)
There is created and established a cumulative reserve fund which shall be designated as a cumulative reserve fund for bond interest and redemption for the water department. The moneys in such fund shall be allowed to accumulate from year to year until the city council determines the need to expend the same for the purpose of paying interest on bonds for the water department and the redemption of such bonds; provided, that any moneys in the fund shall never be expended for any other purpose than that specified in this chapter, without an approving vote by a majority of the electors of the city at a general or special election voting on a proposal submitted to the electors to determine other specified uses to be made of the fund.
(Prior code § 1.76.070)
An item for such cumulative reserve fund mentioned in Section 3.48.070 of this chapter may be included in the annual budget of the city within the limits and as authorized by law, and the item may be repeated from year to year until in the judgment of the city council the amount required for the specified purpose has been raised or accumulated. Any moneys in the fund at the end of the fiscal year shall not lapse nor shall the same be a surplus available or which may be used for any other purpose than that specified except as provided in this chapter.
(Prior code § 1.76.080)