Bradbury Municipal Code Art. II City Funds

There is hereby created in the City treasury a special fund to be known as the "Special Gas Tax Street Improvement Fund."

(1) Deposits. All moneys received by the City from the State of California under the provisions of the Streets and Highways Code for the acquisition of real property or interests therein for, or the construction, maintenance or improvements of streets or highways other than State highways shall be paid into said fund.

(2) Expenditures. All moneys in said fund shall be expended exclusively for the purposes authorized by, and subject to all of the provisions of Streets and Highways Code Article 5, Chapter 1, Division 1.

(Prior Code, § 2512)

A special fund is hereby created in the City treasury to be known as the "Cash Bond Fund" into which fund shall be deposited all cash bonds accepted by the City Council pursuant to the provisions of this Code or any other ordinance or resolution of the City under the terms of which a cash bond is deposited with the City guaranteeing the faithful performance of any agreement with the City. Funds may be withdrawn from said cash bond fund only upon warrant drawn and approved in the normal manner and upon certification by the proper officer having supervision of the performance of such agreement as to the partial completion or final completion and acceptance of the work to be performed under any such agreement.

(Prior Code, § 2513)