§ 2-1683. Capital improvements fund.

(a)

Establishment; purpose. There is hereby established an accumulative fund, to be known as the capital improvements fund, for the purpose of assembling funds to be used, when adequately accumulated, for construction of capital improvement projects.

(b)

Sources of revenue. Such funds shall be derived from the tax levy specifically authorized in and by RSMo 92.030 for such purposes, and from appropriations made from time to time from the general fund and from funds derived from the sale of city-owned lands and properties to such extent as the proceeds of such sales may be available for disposition through the general fund.

(c)

Nature of fund. The capital improvements fund shall be a permanent fund to be used for the purposes set forth in this section and for no other, and shall continue from year to year, its surplus not reverting to the general fund at the end of any fiscal year. Earnings from investments of such fund shall accumulate and accrue to the credit of the fund.

(Admin. Code 1967, § A11.41)