12-6a16. Same; separate improvement funds; uses; balances.
12-6a16
12-6a16. Same; separate improvement funds; uses; balances.
A separate fund shall be created in the city treasury for each
improvement or combination of improvements and such fund shall be
identified by a suitable title. The proceeds from the sale of bonds and
temporary notes and any other moneys appropriated thereto by the governing
body shall be credited to such fund. Such fund shall be used solely to pay
the costs incurred in the making of the improvement, and upon the
completion of the improvement, the balance thereof (if any) shall be
transferred and credited to the city bond and interest fund.
History: L. 1957, ch. 99, § 16; June 29.