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CHAPTER 14 CHAPTER 14 <br />Sections <br />FUNDS <br />1401 Accounting for Funds. Any fund required by this <br />ordinance to be established and maintained by a district or <br />any improvement district or by the city for a district or <br />improvement district may be established and maintained in <br />the accounting records of the district or the city, as <br />the case may be, either as a fund or an account, and may, <br />for the purpose of such records, any audits thereof and any <br />reports or statements with respect thereto,be treated either. <br />as a fund or as an account; but all such records with respect <br />to all such funds shall at all times be maintained in accord- <br />ance with sound accounting practices and with due regard for <br />the protection of the security of any outstanding bonds of <br />any district or improvement district and the rights of every <br />holder of any such bonds. <br />1402 Establishment of Funds. Such funds as may be necessary <br />for the operation, maintenance or construction of any project <br />in or for the administration of any district or improvement <br />district shall be established by resolution or ordinance adopted <br />by the council. The city auditor shall account for all moneys <br />received into and disbursed from each such fund in such manner <br />as is provided in the charter and general ordinances of the <br />MW for moneys received and disbursed by the city. All moneys <br />of each district or improvement district shall be deposited <br />and disbursed in the manner provided by the charter or other- <br />wise for deposit and disbursement of city moneys. <br />46 <br />