Watsonville Municipal Code Art. 7 Redevelopment Agency Funds

* Sections 3-3.701 through 3-3.706, added by Ordinance No. 290 C-M, effective October 12, 1972, amended in their entirety by Section 1, Ordinance No. 322 C-M, effective February 7, 1974.

There is hereby created a fund to be designated as the “Community Redevelopment Agency Administrative Fund—Central Downtown Redevelopment Project”.

(§ 1, Ord. 322 C-M, eff. February 7, 1974)

There is hereby created a fund to be designated as the “Community Redevelopment Agency Administrative Fund West Side Industrial Redevelopment Project”.

(§ 1, Ord. 322 C-M, eff. February 7,1974)

All moneys received from various sources for the administrative expenses of the projects of the Redevelopment Agency shall be deposited to the applicable administrative fund.

(§ 1, Ord. 322 C-M, eff. February 7, 1974)

All moneys in a redevelopment agency administrative fund may be expended to meet the administrative expenses of the respective redevelopment project in substantially the same manner as money is drawn by other agencies and departments of the City, subject to budgetary control. The accounting of such funds shall be carried out under normal accounting procedures as outlined by the National Committee on Governmental Accounting Procedures.

(§ 1, Ord. 322 C-M, eff. February 7, 1974)

There is hereby created a fund to be designated as the “Redevelopment Revolving Fund Central Downtown Redevelopment Project”.

(§ 1, Ord. 322 C-M, eff. February 7, 1974)

There is hereby created a fund to be designated as the “Redevelopment Revolving Fund West Side Industrial Redevelopment Project”.

(§ 1, Ord. 322 C-M, eff. February 7, 1974)

All moneys received from various sources for the redevelopment costs of the respective redevelopment projects shall be deposited to the applicable revolving fund.

(§ 1, Ord. 322 C-M, eff. February 7, 1974)

All moneys in the redevelopment revolving funds may be expended from time to time for the acquisition of real property within the respective redevelopment project areas, for the clearance of such project areas for redevelopment, for aiding in the relocation of site occupants, for expenses to carry out the redevelopment plans, or for any other expenditure allowed by law. All such expenditures shall be made upon the adoption of a resolution by the Council and upon a vote as prescribed by law. The accounting of such funds shall be carried out under normal accounting procedures as outlined by the National Committee on Governmental Accounting Procedures.

(§ 1, Ord. 322 C-M, eff. February 7, 1974)