HomeMy WebLinkAbout03-64 RESOLUTIONRESOLUTION NO. e, —
A RESOLUTION. ESTABLISHING A CONTINGENCY FUND FOR THE CITY OF
FAYETTEVILLE,. ARKANSAS; FIXING THE RESPONSIBILITY FOR UTILIZING.A
CONTINGENCY FUND; PROVIDING FOR THE REPLACING OF MONEYS USED.
FROM A. CONTINGENCY FUND; AND FOR OTHER PURPOSES. •
WHEREAS,emergencies that may require the expenditures of funds not allocated
in the annual budget cannot be predicted or anticipated, and
WHEREAS, it is essential that vital municipal services should not be inter-
rupted because of accident, emergency, or lack of necessary equipment, and
WHEREAS, Ordinance Number 1382,. passed and approved January 13, 1964,
provides for establishment of funds;
NOW,. THEREFORE,. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF FAYETTEVILLE,. ARKANSAS::
SECTION 1.. That there is hereby appropriated from the unappropriated surplus
of the General Fund of the City of Fayetteville, the sum of twenty-five- thousand dollars
($25,.000.00) to be credited to a -fund which is hereby designated the "Contingency
Fund" for the purposeof providing funds for emergency expenditures of the City of
Fayetteville..
SECTION 2.. Expenditures from the Contingency Fund: shall be made by resolution,
passedand approved by the City Council in. regular or special session, Theresolution
shall set forth the nature of the emergency and the amount to be expended..
the
but
SECTION 3.. It will be the duty of the Mayor and City Council to providein
construction of the annual budget moneys toreplenish. the Contingency Fund to,
not limited to., the twenty-five thousand dollar ($25,000.00) level.
SECTION. 4. Expenditures from the Contingency Fund may be made for any
City Council. approved purpose and/or department of the City, except. the Water and
Sewer Department..
SECTION 5.. The money in the Contingency Fund shall. be continuously invested
and reinvested by. the City Controller, in direct obligations of,. or obligations, the:
principal of and interest on which are unconditionally guaranteed by the.. United. States.
Government..
SECTION. 6.. The accounting records of the Contingency Fund shall be maintained
by the Department of Finance on the cash. basis..
ADOPTED
r
v er 'NS J
ATTEST::
'"GEORGE.
/6 , 1964..
APPROVED:
AVIS,. CITY CLERK
/iikr 21112 1.
GUY E. B °OWN, MAYOR