TITLE 3. REVENUE AND FINANCETITLE 3. REVENUE AND FINANCE\Chapter 3.24 EQUIPMENT RESERVE FUND

In accordance with the provisions of K.S.A. 12-6167, there is hereby established a municipal equipment reserve fund, which shall be used by the City to finance the acquisition of equipment necessary for the performance of various functions and services of the City of Belleville. For the purpose of this chapter, the word “equipment” shall mean machinery, vehicles and other equipment or personnel property which the City of Belleville, Kansas deems necessary for the operation of the City.

(Ord. 894; Sec. 1)

It is the policy objective of the Governing Body that such equipment reserve fund shall be used as a financing mechanism to secure the planned and orderly acquisition and replacement of equipment necessary for the efficient and effective operation of the city. It is the further intent of the Governing Body to annually approve in the future the budgeting of current revenues sufficient (a) to finance the acquisition of new equipment needing in the following year, and (b) to finance needed future replacements and acquisitions by setting aside a reserve amount.

(Ord. 894; Sec. 2)

Monies for the City of Belleville, Kansas Equipment Reserve Fund shall be credited to such fund by budgeted transfer of monies from other city funds lawfully available for equipment purchasing, including monies in the city’s general fund.

(Ord. 894; Sec. 3)

Money in such equipment reserve Fund may be used to finance, in whole or in part, any equipment replacement need set forth in the City of Belleville multi-year equipment replacement plan.

(Ord. 894; Sec. 4)

Except for such reimbursed expenses, no moneys shall be credited to such special fund except as may be budgeted annually, or transferred by the annual budget from other funds. Such fund shall not thereafter be subject to the provisions of K.S.A. 79-2925 to 79-2937, inclusive, and amendments thereto.

(Ord. 894; Sec. 5)

Monies which have been transferred to such special fund or any part thereof is not needed for the purposes for which so transferred, the governing body, by adoption of a resolution, may transfer such amount not needed to the general or other fund from which it was derived and such transfer and expenditure thereof shall be subject to the budget requirement provisions of KSA 79-2925 to 79-2937, inclusive, and amendments thereto.

(Ord. 894; Sec. 6)