HomeMy WebLinkAbout0690ORDINANCE NO. 690(1976 Series)
AN ORDINANCE OF THE CITY OF SAN LUIS OBISPO
ADDING PART 4 TO CHAPTER 6 OF ARTICLE II OF
THE MUNICIPAL CODE: SECTION 2640, GENERAL
RESERVE ACCOUNT.
BE IT ORDAINED by the Council of the City of San Luis Obispo as follows:
SECTION 1.' Part 4, Section 2640, General Reserve Account, is hereby
added to Chapter 6 of Article II of the Municipal Code, to read in full
as follows:
"SECTION 2640. General Reserve Account.
Within the General Fund there shall be established an unrestricted
Contingencies Reserve to be known as the General Reserve Account. Each
fiscal year there shall be maintained in this account an amount equal to
three percent (3 %) of the aggregate amount of the approved budget. Each
annual budget shall contain a sufficient appropriation of funds which will be
added to carryover funds`in the account to satisfy the three >., percent (3 %) amount."
SECTION 2. This Ordinance, together with the ayes and noes, shall be
published once in full, at least three days prior to its final passage in the
Telegram- Tribune, a newspaper published and circulated in said City, and the same
shall go into effect at the expiration of thirty (30) days after its said final
passage.
INTRODUCED AND PASSED TO PRINT by the Council of the City of San Luis
Obispo at a Regular Meeting held on the 7th day of December , 1976,
on motion of Councilman Norris , seconded by Councilman Petterson
and on the following roll call vote:
1 .•1
ORDINANCE NO. 690
(1976 Series)
AYES: Councilmen Graham, Gurnee, Norris, Petterson and Mayor Schwartz
NOES: None
ABSENT: None
ATTEST:
Approved as to form:
WENDT, MITCHELL, SIT
de la MOTTE $ LILLE�
City Attorney
By Allen Grimes
Approved as to content:
MER,
x
City Administrative icer
Director ce
FINALLY PASSED this 21st day of December 19 76_ ,
by the following roll call vote:
AYES: Councilmen. Petterson, Gurnee, Graham and Mayor Schwartz
NOES: None
ABSENT: Councilman Norris
YOR KENNETH E. SCHWARTZ
ATTEST:
ITY CLERK J.H,. FITZPATRICK
NO NO..MOL