Redwood City Municipal Code § 2.41 Retirement Fund

In addition to the funds established in this Article, reference is made to the following provisions of this Code:

A. Section 16.3-Library Fund.

B. Section 27.70-Sewer Fund.

C. Section 38.20-Water Fund.

(Ord. No. 1137, § 2; Ord. No. 1402, § 1, 5-19-69; Ord. No. 1403, § 1, 5-19-69)

Editor's note— Ord. No. 1402, § 2, enacted May 19, 1969, repealed § 2.35, derived from Ord. No. 1137, § 3, pertaining to the water fund. Provisions relating to the water fund are currently set out in § 38.20.

A special fund to be known as the "Equipment Service Fund" is hereby established. All monies allocated to such fund shall be appropriated or expended for the operation and maintenance of equipment owned by the City, the replacement of worn out or out-moded equipment of said City, or the acquisition of new equipment for said City. As used herein, the term "equipment" shall include, but not be limited to, vehicles of all kinds, heavy duty equipment or machinery, watercraft, construction equipment, office equipment and machines, electrical and electronic machines and devices, fixtures, furnishings, furniture, and other capital items of similar or like character.

All amounts paid from the Equipment Service Fund for the purposes hereinabove stated shall be reimbursed to said fund by the particular account, fund, or activity benefited by such payment. Such reimbursement shall be made at such time, and during such periods, as funds are available therefor in such particular account, fund, or activity so benefited.

(Ord. No. 1137, § 4; Ord. No. 1535, § 1, 6-26-72)

An enterprise fund to be known as the "Docktown Marina Management Fund" is hereby established. All moneys received by the City of Redwood City from tenants and other sources for the operations and maintenance of the Docktown Marina shall be deposited in the Docktown Marina Management Fund and shall be expended solely for the following purposes in the order set forth:

(a) For the payment of utility invoices from public utility companies;

(b) For the payment of license or other fees supporting access and the operations of the marina;

(c) For the payment of maintenance and operations costs, including but not limited to contracted employees, salaries, benefits, material, design internal service charges, insurance, and construction of necessary improvements; and

(d) For the control and management of slip rental deposits and other fees and charges required by Council approved Berthing Agreements.

For the purpose of complying with the obligations associated with utility accounts and other operations and maintenance requirements, City shall periodically fix and prescribe fees, rentals, and other charges for the services and use of the Docktown Marina facilities sufficient to produce gross revenues adequate for the following purposes in the order set forth:

(a) Payment of all installments for contracted capital work; and

(b) Payment of all expenses of operation, maintenance, and repair of said facility.

(Ord. No. 2392, § 2, 3-11-13)

A special fund to be known as the "Art in Public Places Fund" is hereby established.

In establishing this fund, the City Council finds and declares the following: (a) public art is a valuable means of promoting vibrancy, defining cultural uniqueness, building community, and improving the quality of life in the City; (b) the environment, image, and character of the City would be improved by public art; (c) public art helps make cities more livable and more visually stimulating; (d) the presence of and access to public art enlivens the public areas of buildings and their grounds and makes them more welcoming; (d) public art can illuminate the diversity and history of a community, create/nurture/promote positive community interactions and conversation, and foster the economic development of the community.

To further the forgoing [foregoing] goals, the "Art in Public Places Fund" is established to fund the provision of public art within the City. Monies in this fund may be deposited through contributions from the City's Capital Outlay Fund or any other source authorized in Chapter 45 of this Code. Works of public art shall be acquired and installed pursuant to the provisions of Chapter 45 of this Code.

(Ord. No. 2424, § 1, 6-27-16)

A special fund to be known as "Indemnity Fund" is hereby created. All monies received by the City as indemnity, reimbursement, or settlement for the loss or damage of any City property, from an insurance company or from any other source, shall be credited to the Indemnity Fund. All monies maintained in the Indemnity Fund in accordance with the provisions of this Section shall be expended for the sole purpose of, and are hereby appropriated for, the repair or replacement of the particular damaged or destroyed City property for which such monies were received.

All monies not expended pursuant to the provisions of this Section within six (6) months of the credit thereof to the Indemnity Fund shall be, and the same are hereby ordered, transferred from the Indemnity Fund to the unbudgeted, unappropriated reserve of the General Fund.

The Council may, by resolution, transfer at any time any monies deposited in the Indemnity Fund pursuant to this Section to the General Fund or to any existing appropriated item.

(Ord. No. 969, §§ 1, 2)

A special fund to be known as the "Special Deposit Fund" is hereby created. All monies received to enforce or to secure the faithful performance of any obligation toward the City shall be deposited in such fund and shall be expended solely to refund amounts properly refundable upon termination of the obligation or to satisfy the obligation in such manner otherwise provided by law or agreement. All monies contributed to the City shall be deposited in such fund pending acceptance. All monies the nature and purpose of which cannot be ascertained at the time of receipts shall be deposited in such fund.

(Ord. No. 1137, § 5)

A special fund to be known as the "Retirement Fund" is hereby established. All monies collected or received for the purpose of providing the City's contribution towards employees' retirement shall be deposited in this fund. The monies in this fund shall be expended solely for the payment of the City's cost of providing retirement benefits for the employees of the City.

(Ord. No. 1137, § 6)

A "Capital Outlay Fund" is hereby established. All monies set aside and allocated to the Capital Outlay Fund may be appropriated or expended only for capital outlay purposes. As used herein, the phrase "capital outlay purposes" shall include all expenditures necessary or convenient for the planning, designing, acquisition, construction and completion of public works and improvements and the acquisition of real property or interests therein, including the payment of principal and interest installments on bonds issued for the acquisition and construction of public works and improvements, and including the leasing of real property and improvements thereon when such lease includes the right of purchase.

(Ord. No. 1137, § 7; Ord. No. 1258, § 1; Ord. No. 1535, § 2, 6-26-72)

A special fund to be known as "Federal Revenue Sharing Fund" is hereby established. All monies received from the United States Government pursuant to the State and Local Fiscal Assistance Act of 1972 (Title I of P.L. 92-512) shall be deposited in said fund, and shall be expended solely for the purposes and in accordance with the provisions of said act and all regulations and directives relating thereto issued by the Federal government.

(Ord. No. 1563, § 1, 4-23-73)

A special fund to be known as the "Special Gas Tax Street Improvement Fund" is hereby established pursuant to section 2113 of the Streets and Highways Code. All monies received by the City from the State under the provisions of sections 2106 and 2107 of the Streets and Highways Code shall be deposited in said Fund. All monies in said Fund shall be expended exclusively for the purposes authorized by and shall be subject to the provisions of chapter 3 (commencing at section 2100) division 5, Streets and Highways Code.

(Ord. No. 1137, § 9; Memo 3-11-1994)

A special fund to be known as the "Traffic Safety Fund" is hereby established. All monies received by the City from the State pursuant to the provisions of section 42200 of the Vehicle Code shall be deposited in such Fund and shall be expended solely for the purposes stated in such section 42200.

(Ord. No. 1137, § 10)

A special fund to be known as the "Assessment District Revolving Fund" is hereby established. All monies allocated to such Fund shall be expended solely for the payment of the costs and expenses of expert personal services of an engineering, appraisal, property acquisition and legal nature and for the acquisition of property necessary or convenient for the completion of public works and improvements within assessment districts pending the formation of and sale of bonds by such assessment districts as are authorized to be instituted by the Council. All amounts paid from such Fund shall be reimbursed to it by the particular special assessment district benefited at such time as funds are available through the sale of bonds by the benefited district.

(Ord. No. 1137, § 11)

A special fund to be known as the "Municipal Transit Fund" is hereby created. All monies received from the operation of a transit system owned or operated by the City shall be deposited in such Fund together with such additional funds as may be from time to time appropriated hereto. The monies in this Fund shall be expended solely for the operation, maintenance and management of a transit system and related facilities, including the acquisition of vehicles and the construction of permanent transit system facilities.

(Ord. No. 1330, § 1)

A special fund designated "Downtown Parking and Business Improvement Area Fund" is hereby established. All monies collected or received from the levy of the assessment imposed pursuant to any ordinance, or amendment thereof, establishing a parking and business improvement area within the City pursuant to part 6 (commencing with § 36500), division 18, Streets and Highways Code of the State of California, shall be deposited in said Fund and shall be expended solely for the purposes set forth in the ordinance establishing such area.

(Ord. No. 1364, § 1, 6-17-1968; Memo 3-11-1994)

A special fund to be known as the "Self-Insurance Trust Fund" is hereby established. All monies allocated to such Fund shall be appropriated or expended solely for the purpose of payment of the City's costs related to the maintenance and operation of self-insured workers' compensation, general liability, crime and property insurance programs, including, but not limited to: expenses involving administrative and claims support services, legal services, safety engineering services, claims liability and excess insurance.

(Ord. No. 1677, § 1, 8-9-1976; Ord. No. 1711, § 1, 7-11-1977)

A special fund designated "Sidney D. Herkner Memorial Trust Fund" is hereby established. All monies received by the City from contributions by the public for the purposes for which a bequest has been made to the City from the will of Sidney D. Herkner shall be deposited in such Fund and shall be expended solely for the purposes stated in such will.

(Ord. No. 1726, § 1, 11-21-1977)

A special fund to be known as the "Internal Services Fund" is hereby established. All monies allocated to such Fund shall be appropriated or expended solely for building services, data services, communications, duplicating services, providing supplies and storage and similar central services programs or activities which directly serve operating departments.

All amounts paid from this Fund for the purposes herein specified shall be reimbursed to said Fund by the particular account, fund or activity benefited by such payment. Such reimbursement shall be made at such time, and during such periods, as funds are available therefor in such particular account, fund or activity so benefited.

(Ord. No. 1854, § 1, 12-14-1981)

A special fund designated the "Supplemental Law Enforcement Services Fund" is hereby established pursuant to the provisions of chapter 6.7 (commencing with § 30061), division 3, title 3, of the Government Code. All monies received by the City from the State pursuant to the provisions of said chapter shall be deposited in said Fund. Upon consideration and determination on the question of approval of written requests by the Chief of Police for expenditure of said monies, and following public hearing on said question, the Council shall appropriate and expend said monies for "front line" Municipal police services. Appropriations from the Fund shall supplement existing front line law enforcement services, and shall not be used to supplant any existing funding for law enforcement services.

(Ord. No. 2115, § 1, 10-7-1996)

A fiduciary fund to be known as the "Section 115 Trust Account Fund" is hereby established. The City Council has designated an initial deposit of ten million five hundred forty-eight thousand eight hundred fifty dollars ($10,548,850.00) into the Section 115 Trust Account Fund from the General Fund, the Enterprise Funds, and the Internal Services Funds. These monies and any additional funding amounts to be determined in the future must be dedicated solely for the following purposes set forth:

A. For pre-funding pension obligations;

B. For acting as a reserve fund to help the City pay for increasing annual CalPERS contribution requirements; and

C. For providing more local control and flexibility in investment allocations compared to maintaining funds in a City-invested reserve or giving money to CalPERS to pay down the unfunded liability.

The City Manager, or his/her successor or designee, is appointed as the City's Plan Administrator solely for the following purposes set forth:

A. For the administration of the Trust;

B. For executing an "Agreement for Professional Services" (to include consulting and investment services) between the City and an entity authorized to offer Section 115 trusts that has been approved by the City Council; and

C. For the investment of Trust funds that utilize an investment strategy consistent with recommendations provided by the City Council's Finance/Audit Sub-Committee.

The decision to add additional funds to the Trust or to disburse funds from the Trust in future fiscal years would be subject to the following provisions:

A. Annual evaluation of the performance of the investments of the Trust;

B. Analysis of the City's year-end budget position and overall financial outlook; and

C. Approval by the City Council.

(Ord. No. 2452, § 2, 8-27-18)

A special revenue fund to be known as the "Other Restricted Donations and Grants Fund" is hereby established. Donations or other revenues received from businesses, organizations, or individuals for specific programs or for other purposes shall be deposited into this fund. The monies in this fund shall be expended solely in a manner that is consistent with the intention of the donor or the grantor of such monies.

(Ord. No. 2452, § 2, 8-27-18)

A capital projects fund to be known as the "PEG Fees Fund" is hereby established. Monies collected from cable operators in the City for the purpose of funding the costs of capital expenditures or operational equipment of PEG channel facilities (e.g., local access television channels) shall be deposited into said fund. The monies in this fund shall be expended solely for the payment of costs described above.

(Ord. No. 2452, § 2, 8-27-18)

A special revenue fund to be known as the "CDBG Fund" is hereby established. CDBG entitlement funds, program income, and any other CDBG revenues shall be deposited into this fund. The monies in this fund shall be expended solely in a manner that is consistent with CDBG regulations.

(Ord. No. 2482, § 2, 6-8-20)

A special revenue fund to be known as the "HOME Fund" is hereby established. HOME entitlement funds, program income, and any other HOME funds shall be deposited into this fund. The monies in this fund shall be expended solely in a manner that is consistent with HOME regulations.

(Ord. No. 2482, § 2, 6-8-20)

A special revenue fund to be known as the "Housing Support Fund" is hereby established. Transient Occupancy Taxes collected from short-term rental uses, AB 1717 Prepaid Wireless Utility taxes, and other monies designated by resolution shall be deposited into said fund. The monies in this fund shall be expended solely to provide housing affordable to extremely low income, very low income, lower income, and moderate income households in the City and for administration and compliance monitoring of the affordable housing program.

(Ord. No. 2482, § 2, 6-8-20)