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. <br /> ORDINANCE NO.fO 9j-44-- <br /> AN ORDINANCE creating a special fund to be <br /> designated Equipment Rental Fund No. 501, <br /> specifying the purpose for which the fund is <br /> created; directing the manner in which said fund <br /> shall be expended and repealing Ordinance 300-74 . <br /> NOW, THEREFORE, THE CITY OF EVERETT DOES ORDAIN: <br /> Section 1 : That there is hereby created and established a <br /> special fund to be known and designated as the <br /> "Equipment Rental Fund No. 501" , to be used as a <br /> revolving fund for salaries, wages and operating <br /> expenses required for the repair and operation of <br /> motor vehicle equipment owned by the fund, and for <br /> the purchase of all equipment, materials and supplies <br /> to be used in the administration and operation of <br /> said fund. <br /> Section 2: The Equipment Rental Fund created herein shall be <br /> under the direction of the Mayor or his designee, who <br /> shall be responsible for creating equipment rental <br /> rates . <br /> Section 3: All motor vehicle equipment of the City shall be <br /> owned by the Equipment Rental Fund. All city <br /> vehicles , except for those assigned to the Fire and <br /> Golf Departments, shall be maintained by the Motor <br /> Vehicles Department . The rental rates shall be <br /> sufficient to cover the maintenance and operation of <br /> the equipment and the terms for the rental rates may <br /> be on an annual , monthly, weekly, daily, hourly or <br /> mileage basis . <br /> Rental rates shall be reviewed at least annually and <br /> may be revised to meet the changing cost of <br /> maintenance and operation. <br /> Section 4 : All expenditures from the Equipment Rental Fund shall <br /> be governed by an annual appropriations budget and <br /> shall be made in accordance with City policies and <br /> procedures. <br /> Section 5: All moneys deposited in the Equipment Rental Fund and <br /> not expended as provided herein shall remain in the <br /> fund from year to year and shall not be transferred <br /> to any other fund or expended for any other purpose <br /> unless approved by the City Council . <br /> Section 6 : This ordinance, when valid, repeals Ordinance 300-74 . <br /> ATTEST: <br /> City Clerk <br /> -William E. Moore, Mayor <br /> PASSED: / 9 -J-2,6- <br /> VALID: <br /> �,6VALID: ( — / -- FS <br /> PUBLISHED: ( —i 6 46-- <br />