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Section 2: Fund Components <br /> Reappropriations: A separate program shall be established within the fund to sequester <br /> amounts which are designated by City Council for reappropriation. <br /> Amendments: A separate program shall be established within the fund to sequester <br /> amounts which are designated by City Council for budget amendments. <br /> Transfers: A separate program shall be established within the fund to sequester amounts <br /> which are designated by City Council for interfund transfers. <br /> Section 3: Initial Appropriation <br /> The sum of$2,355,035 is hereby appropriated to the Reappropriation, Amendments, and <br /> Transfers Fund, designated as follows: <br /> Amendment Program: An amount of $1,300,000 shall be appropriated as a reserve <br /> pending a B & 0 tax refund due to a taxpayer overpayment. <br /> Amendment Program: An amount of $1,055,035 shall be appropriated as a reserve <br /> against a pending loss of Public Safety Account revenue following passage of Initiative <br /> 695. <br /> Section 4: Fund Review <br /> The Budget Committee shall review and examine revenues, expenses, fund balances and <br /> the general financial status of Fund 125 from time to time. A recommendation by the <br /> Budget Committee to alter the original purpose shall be presented as a budget amendment <br /> to the City Council. <br /> Section 5: Savings Clause <br /> Nothing contained herein shall be construed as abating any action now pending under or <br /> by virtue of the section of the ordinance herein amended; or as discontinuing, abating, <br /> modifying or altering any tax liability or any tax owing or assessed under or by virtue of <br /> the ordinance herein amended; or as discontinuing, abating, modifying, or altering any <br /> penalty accrued or to accrue; or as affecting the right or liability of any person, firm, or <br /> corporation; or as waiving any right of the City under any City ordinance or provision <br /> thereof in force at the time of passage of this ordinance. <br /> Section 6: Severability <br /> Should any section, subsection, paragraph, sentence, clause or phrase of this ordinance or <br /> its application to any person or situation be declared unconstitutional or invalid for any <br /> reason, such decision shall not affect the validity of the remaining portions of this <br />