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<br />REG:lr:7/28/6S-7 <br /> <br />ORD1.NANCE <br /> <br />N O. <br /> <br />LdL <br /> <br />AN ORDINANCE AMENDING SECTION 2.41.1 OF THE CODE <br />OF THE CITY OF REmvOOD CITY RELATING TO THE PUR- <br />POSES FOR WHICH FUNDS IN THE SALES TAX CAPITAL <br />OUTLAY FUND MAY BE EXPENDED <br /> <br />THE COUNCIL OF REDWOOD CITY DOES ORDAIN AS FOLLOWS: <br /> <br />SECTION 1. <br /> <br />Section 2.41.1 of the Code of the City of <br /> <br />Redwood City is hereby amended to read as follows: <br /> <br />"Section 2.41.1 A 'Sales Tax Capital Outlay Fund' <br /> <br />is hereby established. All money set outside and allocated <br /> <br />to the Sales Tax Capital Outlay Fund, pursuant to Section <br /> <br />32.8, may be appropriated or expended only for capital <br /> <br />outlay purposes. As used herein the phrase 'capital outlay <br /> <br />purposes' shall include all expenditures necessary or con- <br /> <br />venient for the planning, designing, construction and <br /> <br />completion of public works and improvements and the acquisi- <br /> <br />tion of real property or interests therein, including the <br /> <br />payment of principal and interest installments on bonds <br /> <br />issued for the acquisition and construction of public works <br /> <br />and improvements and including the leasing of real property <br /> <br />and improvements thereon when such lease includes the right <br /> <br />of purchase." <br /> <br />SECTION 2. <br /> <br />This ordinance shall be effective 30 days after <br /> <br />its adoption. <br /> <br />* <br /> <br />* <br /> <br />* <br />