Earlier editions: 2026-09
Division 2 — FINANCE AND TAXATION›Part II — FUNDS AND ACCOUNTS›Chapter 11 — SPECIAL FUND FOR CAPITAL OUTLAYS
Torrance Municipal Code Art. 2 General
Torrance Municipal Code · 2026-10 edition · updated 2026-10-05 · Torrance
Cite as: Torrance Municipal Code Article 2 · Text as of 2026-10-05
211.2.1 DESIGNATION; RESTRICTIONS AS TO DISBURSEMENTS.
The fund created by the preceding Article shall be known as the Special Fund for Capital Outlays. Such fund shall remain inviolate for the making of such capital outlays as the City Council shall direct to be made from such fund. No moneys shall be disbursed therefrom for any other purpose, excepting upon consent of the electors obtained as provided in such act, as amended.
211.2.2 TAXES LEVIED TO RAISE MONIES PERMITTED; LIMITATION UPON LEVIES.
Taxes may be levied upon the taxable property in the City for the raising of monies for the Special Fund for Capital Outlays, but no levies so made shall exceed the limitations imposed by the general laws of the State upon the right of the City to impose taxes, without the assent of two-thirds (2/3) of the qualified electors of this City voting at any general or special election at which such proposition may be submitted.
211.2.3 TRANSFERRAL OF MONIES TO FUND.
The City 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.
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