Chapter 3.24 GAS TAX STREET IMPROVEMENT FUND

To comply with the provisions of Section 2113 of the Streets and Highways Code and to avail itself of its benefits of Sections 2106 and 2107 thereof, there is created in the city treasury a special fund to be known as the special gas tax street improvement fund.

All moneys received by the city from the state of California under the provisions of the Streets and Highways Code for the acquisition of real property or interests therein or for engineering or for the construction, maintenance or improvement of streets or highways by the city, and all interest received from the investment thereof, shall be paid into the fund.

All moneys in the fund shall be expended exclusively for the purposes authorized by and subject to the provisions of the Streets and Highways Code.

The city has just been incorporated and has no funds whatsoever to provide for maintenance and improvement of city streets. It is necessary that the city acquire funds for such purposes and without delay. This chapter is therefore necessary for the protection of the public health, welfare and general safety and shall take effect immediately upon its adoption as an urgency measure pursuant to Sections 36934 and 36937(b) of the Government Code.