Glendora Municipal Code Ch. 3.04 Special Gas Tax Street Improvement Fund

To comply with the provisions of Section 2113 of the California Streets and Highways Code, and to avail the city of the benefits of Sections 2106 and 2107 of said code, there is hereby created in the city treasury a special fund to be known as the special gas tax street improvement fund.

(Prior code § 2.66; Ord. 1752 § 1, 2002)

All moneys received by the city of Glendora from the state of California pursuant to applicable provisions of the California Streets and Highways Code for the acquisition of real property or interests therein for, or for the construction, maintenance, or improvement of streets or highways other than state highways, shall be paid into the special gas tax street improvement fund.

(Prior code § 2.67; Ord. 1752 § 1, 2002)

All moneys in the special gas tax street improvement fund shall be expended exclusively for the purposes authorized by and subject to the provisions of the California Streets and Highways Code.

(Prior code § 2.68; Ord. 1752 § 1, 2002)

Interest earned on the special gas tax street improvement fund cash balance shall be recorded as revenue to the fund.

(Ord. 1752 § 1, 2002)