Laserfiche WebLink
�.........r.�. _��� <br /> -, RJC.ek.6/14/61-7 <br /> � � � . �. <br /> i <br /> . � <br /> ���G 1 <br /> ORDINANCE NO. • ~ `� <br /> AN ORDINANCE ESTABLISHING A SALES TAX CAFITAL OUTLAY <br /> FiTLtTD; STATING THE PURPOSES OF SAID FUND; ALLOCP,TING <br /> 8096 OF THE PROCEEDS OF ALL MUL4TICIFFAL SALES AND USE <br /> T�XES TO SAID FUND Ff3R THE P�URPOSES THEREOF; FROVIDING <br /> FOR THE DISPOSITION OF THE REMAINING 20'� OE' THE FROCEEDS <br /> OF SUCFi SALES AND IISE T��S; AND, REPEALING SECTIONS <br /> 24 AND 11 OF ORDINANCES NQ�. 844 AND 845 RESPECTIVELY <br /> WI�REAS, it is the intention and desire of the Council of <br /> the City of Redwood City to establish a "�ALES TAX CAPITAL OIJTLAY <br /> FUND� in accordance with and for the purposes stated in Resolution <br /> No. 3281, adopted by the Council of the City of Redwood City on <br /> December 19, 1960; <br /> NO�W, THEREFORE; <br /> THE COUNCIL OF REDWO�D CITY DOES ORDAIN AS Ff�LL�TS: <br /> SECTIQN l. A "SALES TAX CAFITAL OUTLAY FUND" is hereby <br /> established. Eighty percent (80/) of all revenues heretofore <br /> or hereafter received by the City of Redwood City from the im- <br /> position and levy of any municipal t�es on the sale or use <br /> of tangible personal property in the City of Redwood City shall <br /> be set aside and allocated to the SALES TAX CAFITAL OUTLAY FUND. <br /> SECTION 2. Al1 moneys set aside and allocated to the <br /> SAT•ES TAX CAFITAI, OUTLAY FUND may be appropriated or expended <br /> only for capital outlay purposes. As used herein the phrase <br /> '�capital outlay purposes`° shall include all expenditures necessary <br /> or convenient for the planning, designing, construction, and <br /> completion of public works and improvements, the acquisition of <br /> real property or interests therein, and the acquisition of per- <br /> sonal property, furnishings, �fixtures, or equipment, of a permanent <br /> nature having an anticipated life of five (S) or more years. <br /> SECTION 3. The remaining twenty percent (20/) of such <br /> reveriues from the imposition and levy of municipal sales and <br /> use� taxes shall be deposited and paid into the General Fund of <br /> _... m......., _��,..���. _ .�..,. .. w_, .�.._m,�.�, �.�....,�...._ �,.... _ _ <br />