HomeMy Public PortalAboutOrd. 429 - Creating Capitol Improvement Fund ORDINANCE NO. ,'!�) { ,
AN ORDINANCE ESTABLISHING AND CREATING A CAPITAL
IMPROVEMENTS FUND BY WHICH TO DEPOSIT THE MONEYS RECEIVED
FROM THE LEVY AND/OR COLLECTION OF SEWER CONNECTION
AND/OR TREATMENT PLANT CONNECTION CHARGES FOR THE
CONSTRUCTION, IMPROVEMENT, ENLARGEMENT OR MAINTENANCE
/ OF SEWER LINES, OR SEWER TREATMENT FACILITIES AND
f DECLARING AN EMERGENCY.
BE IT ORDAINM BY THE MAYOR AND COUNCIL OF THE
CITY OF McCALL, IDAHO:
Section 1. There is hereby established and created
a "Capital Improvements Fund" for the receipt, deposit and
accounting of all moneys collected and raised from the levy
or collection of sewer connection and/or treatment plant
charges with which to erect, construct, enlarge or maintain
sewer lines or sewer treatment facilities or structures for
the City. The moneys deposited in said Fund shall be kept
separate and apart from all other moneys of said City and
shall be held in trust, dedicated to the specific purpose
for which the Capital Improvements Fund is hereby created
and established. The Treasurer of the City may, as directed
and empowered by Resolution adopted and approved by the
Council and Mayor, invest the moneys ,of the Fund in the
securities authorized by law, but no portion of the Fund
may be transferred to the credit of any other general or
special fund or used for any other public purpose.
Section 2. An emergency existing therefore, which
emergency is hereby declared to exist, this Ordinance shall
be in full force and effect upon its passage, approval and
publication hereof. X41
Passed and approved this th day of -" ' 19
� n Y
Attest:
C ty Clerk