La Puente Municipal Code Ch. 2.22 Gas Tax Street Improvement Fund

Sections:

• 2.22.010 Purpose of improvement fund.

• 2.22.020 Creation of improvement fund.

• 2.22.030 Payments into improvement fund.

• 2.22.040 Expenditures from improvement fund.

The improvement fund established by this chapter is intended to enable the city to receive apportionments of funds from the Highway Users Tax Fund, as those apportionments are provided for in Chapter 3 of Division 3 and Chapter 1 of Article 5 of Division 1 of the Streets and Highways Code.

(Ord. 767 § 1 (part), 1998)

A special improvement fund, known as the gas tax street improvement fund, was established in 1957 by Ordinance No. 2242 as a separate interest-bearing account.

(Ord. 767 § 1 (part), 1998)

All funds received by the city from the state of California under Sections 2105, 2106, 2107, 2107.5 and other applicable provisions of the Streets and Highways Code that are required to be deposited in the gas tax street improvement fund will be so deposited by the city’s finance director. All interest received by the city from the investment of funds in this gas tax street improvement fund will be credited to the fund.

(Ord. 767 § 1 (part), 1998)

All funds deposited in the improvement fund, including all accrued interest, must be expended exclusively for street purposes and such other purposes as are authorized by the Streets and Highways Code.

(Ord. 767 § 1 (part), 1998)