§ 6.15. Reserve for permanent public improvements.

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The council may by ordinance establish a reserve fund or account or both for permanent public improvements and may appropriate thereto any portion of the general fund cash surplus not otherwise appropriated at the close of any fiscal year. It may likewise assign to the said fund or account or both a specified portion of the ad valorem tax on real estate and tangible personal property not to exceed ten cents on the hundred dollars of the assessed valuation thereof or the whole or part of the proceeds of any other tax. Appropriations from the said fund or account or both shall be made only to finance improvements included in the capital budget. (Acts 1968, ch. 510, § 1)

                    
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