§ 3.02.030. Public safety facility capital expenditure fund.

Latest version.

There is created, pursuant to Chapter 92 of the Acts of 2005, a public safety facility capital expenditure fund. All moneys collected from the vehicular rental surcharge and remitted to the city of Revere shall be deposited in said fund. The city treasurer shall be the custodian of such fund, and moneys from the fund shall be maintained in a special account. The city treasurer may invest moneys in the fund, and any interest earned on the account shall be credited to and become part of the fund. The fund shall be utilized solely and exclusively for the purpose of paying for debt service on any loans or bonds incurred by the city for architectural, engineering, geotechnical and design services for, and the original equipping and construction for, a new public safety facility for the city of Revere.

(C.O.05-656 § 3)

                    
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