Chapter 1.79


1.79.010    Fund created – Source.

1.79.020    Use of fund.

1.79.010 Fund created – Source.

There is created and established within the budget of the city of Hoquiam a fund to be known and designated as the “city council projects fund,” fund no. 004, into which may be transferred general fund revenues as available and at the discretion of the city council, with an approximate balance of one hundred thousand dollars. The initial source of funding for this fund is the 2005 year ending surplus. Interest income derived from fund no. 004 investments shall be deposited into the general fund. (Ord. 07‑06 § 1, 2007).

1.79.020 Use of fund.

Expenditures from this fund shall be used to fund future one-time operational and capital needs or to support city services on a one-time basis pending the development of a longer term financial solution. All expenditures from this fund shall require prior city council approval, unless previously specifically authorized by the city council for expenditures in the annual budget. (Ord. 07‑06 § 1, 2007).