There is hereby created and established a special fund to be known as the “capital improvements and facilities fund No. 316” for the purpose of financing capital improvements and facilities as shall be designated from time to time by the city council.
(Legislative history: Ord. 84-32)
The fund is to be made up from real estate excise tax and other funds as shall be designated from time to time by the city council or applicable state law.
Monies deposited into this fund shall be used solely for capital and facilities improvements as shall be designated from time to time by the city council; provided, however, nothing contained herein shall limit the city council's authority to transfer monies deposited in this fund to other funds of the city.