§ 16.530. Annual determination of permanent improvement bonds.
Latest version.
For the purpose of preventing the unnecessary accumulation of moneys and funds in
the permanent improvement fund of the city, the city council and the several boards
and departments of the city authorized so to do shall, at or prior to the beginning
of each fiscal year of the city or as soon thereafter as practicable, ascertain and
determine and shall authorize and direct the issuance and sale of the several amounts
of the city bonds and other obligations of the city necessary to be issued and sold
for the making of public permanent improvements of the city during such fiscal year
by the city council and the several boards and departments of the city. Such bonds
shall be known and designated as "permanent improvement bonds" and shall be issued
for the general purpose of making public permanent improvements of the city, without
specifying any particular improvement. In the issuance of such bonds by the city council
or any board or department of the city authorized so to do, provision shall be made
for the sale thereof from time to time during the fiscal year as may be necessary
for the purposes for which the same are issued, and the several amounts thereof to
be apportioned and credited to the several boards and departments shall be designated.
(Code 1960, As Amend., § 484.010)
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