Los Banos Municipal Code Art. 2 Special Fund for Capital Outlays

Pursuant to the provisions of Article 4 of Chapter 4 of Part 1 of Division 2 of Title V of the Government Code of the State (Section 53730 et seq.), there is hereby established the "Special Fund for Capital Outlays."

(§§ 1 and 2, Ord. 164)

The Special Fund for Capital Outlays shall remain inviolate for the making of any capital outlays, and moneys shall be disbursed therefrom for such purposes only, except upon the consent of the electors obtained as set forth in said provisions of the Government Code.

(§ 2, Ord. 164)

Taxes may be levied upon the taxable property in the City to raise money for the Special Fund for Capital Outlays, but no levy so made shall exceed the limitation imposed by the general laws of the State upon the right of the City to impose taxes without the consent of the qualified electors of the City voting at any general or special election at which such proposition may be submitted.

(§ 3, Ord. 164)

The Council may transfer to the Special Fund for Capital Outlays any unencumbered surplus funds remaining on hand in the City at the end of any fiscal year.

(§ 4, Ord. 164)