Ordinance 1096-85 - Laserfiche WebLink

• ORDINANCE NO. /d96-76- AN v9f6'75AN ORDINANCE specifying the purpose of the Fleet Replacement Fund No. 506 and directing the manner in which the fund shall be expended. NOW, THEREFORE, THE CITY OF EVERETT DOES ORDAIN: Section 1 : That there is established a special fund to be known as the "Fleet Replacement Fund, No. 506" , to be used as a revolving fund for the replacement of motor vehicle equipment which belongs to the Equipment Rental Fund, No. 501 . Section 2: The Fleet Replacement Fund shall be under the direction of the Mayor or his designee. Section 3: All departments which are renting motor vehicle equipment from the Equipment Rental Fund are required to provide funds for the eventual replacement of such equipment. All departments except Utilities and Transit shall pay such replacement money into the Fleet Replacement Fund. Any existing replacement monies within Fund 506 contributed by Water , Sewer or Transit shall be refunded. The Utilities and Transit Departments shall account for the replacement money on their equipment within their own funds . Section 4 : Funds for the replacement of equipment shall be contributed annually by the operating departments or by the general fund for departments within the general fund. The amount of the contributions shall be calculated in such a manner to assure continuity of payments that are uniform, consistent , and predictable from year to year . Section 5: In addition to fleet replacement charges, the Fleet Replacement Fund shall receive funds derived from the sale of any of the equipment or other capital assets of the Equipment Rental Fund and any money which may be made available by action of the City Council. Section 6: All expenditures from the Fleet Replacement Fund shall be governed by an annual appropriations budget and shall be made in accordance with City policies and procedures.