Bishop Municipal Code Ch. 3.28 Capital Outlays Fund

A capital outlays fund is created for the capital outlays for public improvements under the provisions of Government Code §§ 53730 through 53730—53737.

(Prior Code, § 8-2; Code 1985, § 3.28.010)

The capital outlays fund shall be known as the special fund for capital outlays. Such fund shall only be used for making of capital outlays for public improvements, and no money shall be disbursed therefrom except for such a purpose, except with the consent of the electors.

(Prior Code, § 8-3; Code 1985, § 3.28.020; Ord. No. 430, § 8, 1985)

Taxes may be levied upon taxable property in the city for the purpose of raising money for the capital outlays fund. 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 the electors in accordance with Government Code § 53732.

(Prior Code, § 8-4; Code 1985, § 3.28.030; Ord. No. 430, § 9, 1985)

The city council may transfer to the capital outlays fund any unencumbered surplus funds remaining on hand in the city at the end of any fiscal year, and the amount so transferred shall thereupon become a part and portion of such fund.

(Prior Code, § 8-5; Code 1985, § 3.28.040)