Lakewood Municipal Code Part 1 City Funds

A fund is hereby created for capital outlays under the provisions of Sections 53730 to 53737 of the Government Code.

[Amended by Ord. 43]

Such fund shall be known as "Special Fund for Capital Outlays" and it shall remain inviolate for the making of any capital outlays and no moneys shall be disbursed therefrom except as provided in Section 53736 and other sections and provisions of the Government Code of the State of California.

[Amended by Ord. 43]

Taxes may be levied upon the taxable property in said City for the raising of monies in said fund but in making a levy the legislative body shall not exceed any limits upon its right to impose taxes prescribed by law, except as authorized by law.

[Amended by Ord. 43]

The City Council may in its discretion transfer to such fund any unencumbered surplus funds remaining on hand in the City at the end of any fiscal year.

[Amended by Ord. 15; Ord. 59; Ord. 131; Ord. 185]

There is hereby established a Payroll Revolving Fund in the amount of $40,000.00 to be maintained and replenished out of the General Fund of the City, and there shall be deposited in said Payroll Revolving Fund from the General Fund the sum of $40,000.00.

[Amended by Ord. 15; Ord. 59]

All monies in said fund shall be expended exclusively for payroll purposes.

[Amended by Ord. 15; Ord. 59]

All expenditures out of said fund and shall be audited by the City Council prior to payment but shall be presented by the City Administrator to the City Council for ratification and approval at the first meeting after the delivery of the payroll warrants. Upon presentation to the City Council by the City Administrator of an itemized statement of expenditures out of said fund, audited and approved by the City Administrator, the City Council may authorize the reimbursements to said fund of the amount so audited and approved.

[Amended by Ord. 15; Ord. 59]

Payroll warrants and checks need not be audited by the City Council prior to payment but shall be presented by the City Administrator to the City Council for ratification and approval at the first meeting after the delivery of the payroll warrants. Upon presentation to the City Council by the City Administrator of an itemized statement of expenditures out of said fund, audited and approved by the City Administrator, the City Council may authorize the reimbursements to said fund of the amount so audited and approved.

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

All monies received by the City from the State of California under the provisions of the Street and Highways Code for the acquisition of real property or interests therein for, or the construction, maintenance or improvement of streets or highways other than State highways shall be paid into said fund.

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

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 said City under the terms of which a cash bond is deposited with the City. Funds may be withdrawn from said "Cash Bond Fund" only upon warrant drawn and approval 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 such agreement.

[Added by Ord. 72-8]

A special fund is hereby created in the City Treasury to be known as the "Park and Recreation Facilities Fund" in which shall be deposited all finds derived from the taxation of the construction of dwelling units. All monies in said Fund shall be expended exclusively for the acquisition, construction and installation of park and recreation land and facilities.