San Luis Obispo County Municipal Code Ch. 3.14 Capital Outlay Fund

Pursuant to the authorization of Title 5, Division 2, Part 4, Article 4, Section 53731, of the Government Code of the State of California, there is created the capital outlay fund of the county, which shall be a fund for capital outlays.

(Ord. 1637 § 1 (part), 1976)

The board is empowered annually to levy and collect a tax to be paid into said fund, if in their discretion said tax is necessary. The rate of the tax, if any, shall be determined by the board and the tax shall be levied, collected, and paid into the fund in accordance with the laws of the state now governing the levy, assessment, and collection of general county taxes.

(Ord. 1637 § 1 (part), 1976)

At any time after the creation of the capital outlay fund, the board may transfer to such fund any unencumbered surplus funds remaining on hand in the capital outlay fund in the county at the end of any fiscal year.

(Ord. 1637 § 1 (part), 1976)

The capital outlay fund shall remain inviolate for the making of capital outlays, as that term is used in Title 5, Division 2, Part 4, Article 4 of the Government Code of the State of California, and no moneys shall be disbursed therefrom except for such purposes, other than in the manner provided for in Title 5, Division 2, Part 4, Article 4 of the Government Code of the State of California.

(Ord. 1637 § 1 (part), 1976)