§ 6.21. Reserve for permanent public improvements.

Latest version.

The council may, by ordinance, establish a reserve fund for permanent public improvements and may appropriate thereto any portion of the general fund cash surplus not otherwise appropriated at the close of any fiscal year. It may likewise assign to the said fund a specified portion of the ad valorem tax on real estate and tangible property not to exceed ten cents ($0.10) on the hundred dollars ($100.00) of the assessed valuation thereof or the whole or part of the proceeds of any other tax. Appropriations from the said fund shall be made only to finance improvements included in the capital budget. The proceeds of the sale of public property, including any utility, may be placed in this fund. The interest accruing on the principal may be appropriated to the operating expenses of the city.

(Acts 1987, ch. 68)

(Acts 1987, ch. 68)

                    
                        var val = document.getElementById('citecontent').innerHTML;
                        art.dialog.defaults.title = window.location.href;
                        art.dialog.data('cite', val);
                        art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                        art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');