§ 3.04.020. Special gas tax street improvement fund.

(a)

Created. To comply with the provisions of Streets and Highways Code § 2113 and to avail itself of the benefits of Streets and Highways Code §§ 2106 and 2107, there is hereby created in the city treasury a special fund to be known as the "special gas tax street improvement fund."

(b)

Composition. All monies received by the city from the state under the provisions of the Streets and Highways Code for the acquisition of real property or interests therein or for engineering or for the construction, maintenance or improvement of streets or highways by the city, and all interest received from the investment thereof, shall be paid into the fund created by this section.

(c)

Expenditures. All monies in the fund created by this section shall be expended exclusively for the purpose authorized by and subject to the provisions of the Streets and Highways Code.

(Ord. No. 3(1989), §§ 1—3, 4-18-89)