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 Hastings
 Code of Ordinances
 Part I. CHARTER
 Article VIII. GENERAL FINANCE

  § 8.7. Special accounts.  

Latest version.

  • (a)

    The Council may, by ordinance, establish and maintain accounts appropriating, providing, setting aside and accumulating moneys to be used for acquiring, extending, altering, constructing, or repairing designated public improvements which the City is authorized by law to acquire, alter or enlarge, and for the purchase of equipment of any type needed for the operation or services of the City.

    (b)

    Appropriations to such accounts may be made by the Council either in the annual appropriation resolution or, from time to time during the fiscal year, from available funds, from whatever source derived, which are not required for other appropriations or obligations of the City. Such accounts shall be continuing accounts and the balances therein at the end of each fiscal year shall remain a part thereof. However, all accounts and existing balances therein shall remain subject to annual appropriations as contemplated by the Uniform Budgeting and Accounting Act [Act No. 2 of the Public Acts of Michigan of 1968 (MCL 141.421 et seq., MSA 5.3228(21) et seq.)].

    (c)

    Moneys which are accumulated for the purpose of public improvements, as set forth in subsection (a) hereof, shall be used only at the direction of the Council, and only for the purpose provided in the original ordinance establishing such account, unless their use for some other municipal purpose be authorized by a vote of six (6) members of the Council, after a public hearing thereon. After the purpose of any account has been fulfilled, any balance remaining therein, may be transferred by the Council to any other special account or to the general fund of the City.

    (d)

    Moneys which are accumulated for the purpose of purchasing equipment, as set forth in subsection (a) hereof, shall be expended only for the purpose provided in the ordinance establishing any such account, or as such ordinance may be amended from time to time. When no longer required for such purpose, such moneys or any remaining part thereof, may be transferred to the general fund by resolution of the Council.