HomeMy WebLinkAbout1979-2301 CREATING THE “TRANSIT CAPITAL RESERVE FUND”; DESIGNATING ITS PURPOSE, SOURCE OF FUNDS, EXPENDITURES FROM. ORDINANCE NO. 02301
AN ORDINANCE relating to funds and accounts; creating the "Transit
Capital Reserve Fund", as a special fund and designat-
its purpose, specifying source of funds thereto and
providing for expenditures therefrom; and enacting
Chapter 3.69, "Transit Capital Reserve Fund", and
111 Sections 3.69.010, 3.69.020 and 3.69.030 as a new
chapter and new sections of the City of Yakima Munici-
pal Code.
BE IT ORDAINED BY THE CITY OF YAKIMA:
Section 1. Chapter 3.69, "Transit Capital Reserve Fund",
and Sections 3.69.010, 3.69.020 and 3.69.030 thereof, are hereby
enacted as a new chapter and new sections of the City of Yakima Muni-
' - -
cipal Code to read as follows:
II/ "Chapter 3.69
TRANSIT CAPITAL RESERVE FUND
3.69.010 Fund created--Purpose. There is created
a special fund to be known as the Transit Capital Reserve
Fund. The money in said fund shall be expended only for
the purpose of purchasing capital equipment related to the
City of Yakima Transit System.
3.69.020 Source of funds. The source of funds for
the Transit Capital Reserve Fund shall be by transfer from
the Transit Fund or from such other available funds as may
be authorized from time to time by the City Council. Revenue
received by the City as grants for transit capital purposes
shall also be placed in the fund.
3.69.030 Expenditures. Expenditures from the
Transit Capital Reserve Fund shall be made only for the
purposes specified in Section 3.69.010 of this chapter.
No expenditure shall be made from such fund unless the
Yakima City Council shall approve the expenditure by enact-
11/ ing an ordinance appropriating money within the fund for
the purpose of which the expenditure is to be made, or by
including an appropriation for such purpose in the budget."
Section 2. This ordinance shall be in full force and effect thirty
days after its passage, approval and publication as provided by law
and by the City Charter.
bk.
PASSED BY THE CITY COUNCIL, signed and approved this /;? day
of 1 , 1979.
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Al/
Mayor
ATTEST:
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