5311 SEGREGATING FUNDS TO BE KNOWN AS THE CAPITAL IMPROVEMENT FUND

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� ~ � ORDINANCE NO. � AN ORDINANCE SEGREGATING FUNDS TO BE KNOWN AS THE CAPITAL IM- PROVEMENT FUND WHEREAS, on the llth day of August , 1969, this Coun- cil did resolve that the interests of the City would better be served if the funds allocated to the City by the State of Illinois out of the State Income Tax were used primarily for needed capital improvements rather than for operating purp�ses, and that of the various capital improvements needed, the providing of better streets was paramount, and the Council did thereafter resolve and direct that a Capital Improvement Fund be established, into which the proceeds from said tax be deposited and segregated; and WHEREAS, it appears to the Council that its intention and purpose would better be served by ordinance rather than by resolution. NOW THEREFORE, BE IT ORDAII�D BY THE COUNCIL OF THE CITY OF DECATUR, ILLINOIS: Section 1. That a fund to be known as the Capital Improve- ment Fund be, and the same is hereby, established. Sectio n 2. That all monies allotted by the State to the City out of the State Income Tax be, and they are he�eby, directed to be deposited and segregated into said Capital Improvement Fund. , Section 3. That said fund shall be expended or paid out only for projects approved by this Council and specifically author- ized by it to be paid for out of said fund, an d then only upon vouchers duly prepared and submitted in the usual and regular course of business of the City.