Ord72 1535 - Laserfiche WebLink

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hereby ordered appropriated and transferred from the Equipment Replacement Fund to the Equipment Service Fund. SECTION 2. (a) Section 2.41.1 of the Code of the city of Redwood City is hereby amended to read as follows: "Section 2 .41.1 A" Capital outlay Fund" is hereby established. All monies set aside and allocated to the capital Outlay Fund may be appropriated or expended only for capital outlay purposes. As used herein, the phrase "capital outlay purposes" shall include all expenditures necessary or convenient for the planning, designing, acquisition, construction and completion of public works and improvements and the acquisition of real property or interests therein, including the payment of principal and interest installments on bonds issued for the acquisition and construction of public works and improvements, and including the leasing of real property and improvements thereon when such lease includes the right of purchase." (b) All unexpended unencumbered monies remaining in the Sales Tax Capital Outlay Fund upon the effective date of this ordinance, the disposition of which is not otherwise provided for, are hereby ordered appropriated and transferred from the Sales Tax Capital outlay Fund to the capital Outlay Fund. SECTION 3. Section 32.8 of the Code of the City of Redwood City is hereby amended to read as follows: "Section 32.8 All revenues received by the City from the levy of the taxes imposed by this article shall be deposited and paid into the General Fund of the city: provided, however, that on or before June 30th of each year the City Controller shall transfer from the General Fund to the Capital outlay Fund an amount equal to 66.33 per cent -2-