Ventura Municipal Code Ch. 4.510 Special Funds

Pursuant to the authority granted by California Statutes 1937, Chapter 717, page 1995, as amended, and subject to the limitations therein stated, a fund is hereby created to provide for capital outlays.

A. Purpose. Such fund shall be known as “capital outlays fund,” and it shall remain inviolate for the making of any capital outlays, and no moneys shall be disbursed therefrom, excepting for such a purpose, unless with the consent of the electors obtained as provided in said act.

B. Taxes for Fund. Taxes may be levied upon the taxable property in the city for the raising of money for said fund subject to the limitations imposed by the provisions of the Charter. Such tax shall be levied, computed, entered, collected and enforced at the same time, in the same manner by the same persons and with the same penalties as other taxes for city purposes and when collected shall be paid into the treasury to the credit of such fund.

C. Transfers to Fund. The council may transfer to such fund any unencumbered surplus funds remaining on hand in the city at the end of any fiscal year. (Code 1971, § 1411)