Soledad Municipal Code Ch. 3.36 Funds

A fund to be designated the "capital outlay fund" is established pursuant to the provisions of Article 4, Chapter 4, Part 1, Division 2, Title 5 of the California Government Code, for the purpose of accumulating a reserve for capital outlays which hereafter from time to time may be required. "Capital outlays" as used in this section does not include the construction, acquisition, extensions of, or additions to utilities other than utilities for the furnishing of water supply. "Utilities" does not include sewage or sanitation facilities or airports.

(Prior code § 8-5)

A. Fund Created. To comply with the provisions of Article 5 of Chapter 1 of Division 1 of the California Streets and Highways Code, with particular reference to the amendments made thereto by Chapter 642, Statutes of 1935, there is created in the city treasury a special fund to be known as the "special gas tax street improvement fund."

B. Payments into Fund. All moneys received by the city from the state under the provisions of the Streets 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 the fund.

C. Expenditures from Fund. All moneys in the fund shall be expended exclusively for the purposes authorized by, and subject to all of the provisions of, Chapter 3, Division 3, of the Streets and Highways Code, and of Article 5, Chapter 1, Division 1, of the Streets and Highways Code.

(Amended during 1986 codification; prior code § 8-6)