Title 07 Finance
Chapter 07.08 Funds
Article II. Special Revenue Funds
Section 07.08.104 Under-freeway Parking Fund
- There is established a special revenue fund to be known and designated as the “under-freeway parking fund” to be used as a fund for the receipt of moneys from public parking or leasing of areas beneath the freeway and for the payment of lawful and appropriate expenses of salaries and wages, maintenance, operation and capital outlay for the area beneath the freeway.
- The moneys to be expended from this fund shall be budgeted and appropriated in the regular City budget and such moneys may either be directly disbursed or reimbursed to other funds upon proper and usual accounting by the chief financial officer.
- Revenues deposited in the under-freeway parking fund which are in excess of current needs may be accumulated or held in reserve in such fund for future capital improvements of areas under the freeway; and should such accumulated funds exceed a reasonable amount needed for future capital improvements of areas under the freeway, as determined by a majority vote of the city council, then such excess funds may be appropriated to the improvement of other parking facilities in other areas of the city or for such other purposes as the city council may designate by an appropriate ordinance.
Date Passed: Monday, May 7, 2007
Effective Date: Wednesday, June 20, 2007
Recodification ORD C34024 Section 1