Anderson Municipal Code Ch. 3.04 Capital Outlay Fund

A fund is created for capital outlays under the provisions of Sections 53730 to 53737 of the State Government Code.

(Prior code § 2.22)

The fund created by Section 3.04.010 shall be known as the "Special Fund for Capital Outlays," and it shall remain inviolate for the making of any capital outlays. No moneys shall be disbursed therefrom excepting upon consent of the electors obtained as provided in the State Government Code.

(Prior code § 2.23)

Taxes may be levied upon the taxable property in the city for the raising of moneys for the special fund for capital outlays, but no levy so made shall exceed the limitation imposed by the general laws of the state upon the right of the city to impose taxes without the assent of two-thirds of the qualified electors of the city voting at any general or special election at which such proposition may be submitted.

(Prior code § 2.24)

The city council may transfer to the special fund for capital outlays any unencumbered surplus funds remaining on hand in the city at the end of any fiscal year.

(Prior code § 2.25)