HomeMy Public PortalAboutOrd. 0738O~DINANCE N0, 73g
AN ORDINANCE OF THE CITY OF LYNWOOD AMENDING
SECTION 29,3~ S~_SECTION (a) OF THE LYNWOOD
~I'I'~' CODE PERTAINING TO THE ALLOCATION OF SALES
TAX RETURNS TO THE CAPITAI, IMPROVEMENT FUND,
The Cit,y Council of the City of Lynwood does ordain as
follows;
Section l. Section 29,3, sub-section (a) of the Lynwood.
~1~y Code is a d to read. as follows:
~~(a) To Capital Improvement Fund,
Fifty per cent of total
revenues, but not to exceed One Hundred Twenty Thousand Dollars per
annum. Funds accruing to this account shall be placed in a separate
account and used only for capital improvements, new equipment,
approved replacement items and retirement of general obligation bonds,"
Sec~?, The City Clerk is hereby ordered. and directed
to certify to the passage o£ this ordinance and to cause the same to
be published once in the Lynwood Press, a newspaper of general cir-
culation printed and published in the City of Lynwood.
First read. at a regular meeting of the City Council of
said city held on the 3rd day of July, 1962, and finally adopted and
ordered published at a regular meeting of said. Council held on the
17th day of July, i962, by the following vote:
Ayes; Councilmen Duncan Ham Rowe
Noes; Councilmen None
Absent: Councilmen Finnh_ Mr~Millan
* ~~ ~
~ ayor ~, ~ t~-~~~ ~
~~ ~.v ~i 1.ynwood-
AT
U9h
Y er , o ynwoo
STATE OF CALIFORNIA )
COUNTy OF LOS ANGELES: ss.
CTTY OF LYNWOOD )
I, the undersigned, City Clerk of the
City of Lynwood, and ex-officio clerk of the Council
of said City, do hereby certify that the above is
a true and correct copy of ordinance ~Io.
73-- 8 _
adopted by the City Council of the City of Lynwood
and that same was passed on the date and by the vote
therein stated.
Dated this 18t1