Calexico Municipal Code Ch. 3.08 Capital Outlays Fund

A fund is created for capital outlays under the provisions of that certain act of the legislature of the state of California entitled "An act to provide for the levy and collection of taxes and assessments for the purpose of creating a fund for capital outlays by cities, counties, cities and counties or districts," approved July 1, 1937, and being Chapter 717 of the Statutes of 1937, as amended.

(Prior code § 1621)

The fund created in Section 3.08.010 shall be known as "Special Fund for Capital Outlays." It shall remain inviolate for the making of any capital outlays and no moneys shall be disbursed therefrom excepting for such a purpose, excepting upon consent of the electorate obtained as provided in the act referred to in Section 3.08.010.

(Prior code § 1622)

Taxes may be levied upon the taxable property in the city for the raising of moneys for the fund. In making a levy, the legislative body shall not exceed any limitation upon its right to impose taxes prescribed by law except as authorized by law.

(Ord. 744 § 1, 1978: prior code § 1623)

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

(Prior code § 1624)