Ordinance 1991-21
ORDINANCE NO.
91-~1
AN ORDINANCE OF THE CITY OF WYLIE, TEXAS, PROVIDING FOR
GUIDELINES AND RESTRICTIONS CONCERNING THE MAINTENANCE AND USE OF
ANY SUMS COLLECTED AND HELD BY THE CITY AS "RESERVE/CONTINGENCY
FUNDS" UNDER THE AUTHORITY OF ARTICLE VII SECTION 3 A(ll) OF THE
WYLIE CITY CHARTER; PROVIDING FOR A PENALTY FOR THE VIOLATION
THEREOF; PROVIDING A SEVERABILITY CLAUSE; PROVIDING FOR THE
REPEAL OF ALL ORDINANCES IN CONFLICT THEREWITH, AND FURTHER
PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, Article VII Section 3 A(ll) of the Wylie City
Charter provides that the contents of the City's budget for each
fiscal year shall included a "reserve/contingency fund, not to
exceed 5% of the proposed expenditures from the major operating
funds" and,
WHEREAS, the governing body has every intention and desire
of satisfying such requirement in adopting and administering
annual budgets containing such an appropriation; and
WHEREAS, the governing body is concerned as to how such
funds will be maintained, managed, and expended once they have
been set aside and allocated to the reserve/contingency fund and
there does not currently exist any restrictions or directions
concerning such matters; and
WHEREAS, the governing body has in its legislative capacity
determined that the welfare of the City and the intent of the
City Charter would both best facilitated by placing reasonable
restrictions on the use of the funds so appropriated and set
aside into the reserve/contingency fund;
NOW, THEREFORE,
CITY OF WYLIE, TEXAS,
BE IT ORDAINED BY
as follows:
THE CITY COUNCIL OF THE
SECTION 1.
There is hereby established a fund known as the
"Reserve/Con t ingency Fund" (here in refer red to as the fund) City
of Wylie, Texas to be held, set aside, and maintained separately
from all other funds, monies and accounts of the City of Wylie.
SECTION 2.
Any sums budgeted and appropriated pursuant to Article VII
Section 3 A(ll) of the Wylie City Charter shall be placed into
the fund directly from ad valorem tax revenues.
SECTION 3.
The
shall be
one lump
be fully
amount so budgeted and appropriated in each fiscal year
transferred into the fund, either incrementally or in
sum, the first six months of each fiscal year and shall
transferred and funded by April 1 of each fiscal year.
SECTION 4.
All monies funds placed and held in the fund shall be
deposited in interest bearing accounts which shall be clearly
identified as "Reserve/Contingency Fund" and shall be invested
only in accordance with applicable rules and provisions of the
Wylie City Charter and state law.
SECTION 5.
All interest earned on such funds shall be retained in and
credited to the fund and shall not be removed therefrom except as
hereinafter provided.
SECTION 6.
The sums in the fund shall in no event be borrowed from, or
by, any other fund or department of the City; nor shall they be
pledged as security for any debt or other obligation of the City;
nor shall they be otherwise encumbered in any way whatsoever.
SECTION 7.
Monies may be removed from the fund only upon the adoption
of a resolution by the City Council which declares the existence
of an emergency condition, by which the health and welfare of the
City and/or its governmental operations will be substantially
threatened or impaired if such transfer is not authorized; which
said resolution must be passed by unanimous affirmative vote of
all of the then occupied positions of Mayor, Mayor Pro-Tem and
City Councilmen.
SECTION 8.
Any violations of this ordinance, specifically including
without limitation the removal of funds other than as provided in
the preceding paragraph or movement of the funds as provided in
paragraph six, shall subject the person or persons authorizing or
taking such actions to be ouster where such persons are elected
officials or immediate termination of employment if such person
is an employee of the City.
SECTION 9.
This ordinance shall be and is hereby declared to be
cumulative of all ordinances of the City and shall operate to
repeal or effect any of such other ordinances except and so far
as the provisions thereof are inconsistent or in conflict with
the provisions hereof. and to the extent of such conflict or
inconsistence, if any such other ordinances are hereby repealed.
SECTION 10.
Should any paragraph, sentence, subdivision, clause, phrase
or section of this ordinance be adjudged or held to be
unconstitutional, illegal or invalid, the same shall not effect
the validity of this ordinance as a whole or any part or
provision thereof, other than the parts so declared to be
invalid, illegal or unconstitutional.
SECTION ll.
This ordinance shall take effect immediately from and after
its passage and the publication of the caption as the law and the
Charter in such cases provide.
DULY PASSED AND APPROVED by ~n:JC~ty Council of the City of
Wylie, Texas this % day of ~~ ' 1991.
ATTEST:
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City of Wylie, Texas
APPROVED: