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REL:adg <br />3/24/81 <br /> <br />ORDINANCE NO. NS-1581 <br /> <br />AN ORDINANCE OF THE CITY OF SANTA ANA <br />ESTABLISHING A RESERVE FUND PURSUANT <br />TO SECTION 5 OF ARTICLE 13B OF THE <br />CALIFORNIA CONSTITUTION <br /> <br /> THE CITY COUNCIL OF THE CITY OF SANTA ANA DOES <br />ORDAIN that the Santa Ana Municipal Code, is hereby amended <br />by adding an article, to be numbered Article IX, to Chapter <br />13 thereof, which said article consists of Sections 13-80 <br />through 13-85, and reads as follows: <br /> <br />ARTICLE IX. EXCESS PROCEEDS <br /> OF TAXES RESERVE FUND <br /> <br />Sec. 13-80. Creation of Excess Proceeds <br /> of Taxes Reserve Fund. <br /> <br /> There is hereby created and established the Excess <br />Proceeds of Taxes Reserve Fund. Such fund is established <br />pursuant to Section 5 of Article 13B of the Constitution of <br />the State of California for the purpose of providing for the <br />separate accounting of proceeds of taxes received in a <br />fiscal year prior to the fiscal year in which they are <br />expended, and thereby to distinguish between proceeds of <br />taxes which are subject to the appropriations limit of the <br />City applying to the fiscal year in which they are expended <br />and proceeds of taxes which are not subject to the <br />appropriations limit of the City in the fiscal year in which <br />they are expended. <br /> <br />Sec. 13-81. Appropriations to the fund. <br /> <br /> In each fiscal year, the amount, if any, by which <br />those revenues which constitute proceeds of taxes exceed <br />expenditures thereof, as of the close of the last day of <br />such fiscal year, is appropriated to the Excess Proceeds of <br />Taxes Reserve Fund, and shall constitute an appropriation <br />subject to limitation in such fiscal year. <br /> <br />Sec. 13-82. Relation to other funds. <br /> <br /> Any moneys which have been contributed to any <br />contingency, emergency, unemployment, reserve, retirement, <br />sinking, trust, or similar fund during the course of a <br />fiscal year and which are appropriated to the Excess <br />Proceeds of Taxes Reserve Fund by operation of Section 13- <br />81, shall remain in such other fund and subject to the <br />limitations placed upon expenditures therefrom as well as <br />being within the Excess Proceeds of Taxes Reserve Fund for <br />purposes of this Article. <br /> <br />Sec. 13-83. Expenditures from the fund. <br /> <br /> Moneys in the Excess Proceeds of Taxes Reserve <br />Fund may be expended or authorized for expenditure in the <br />same manner as moneys not in such fund. Such expenditures <br />or authorizations to expend from such fund shall not <br />constitute appropriations subject to limitation. <br /> <br /> <br />