(a)   In accordance with the provisions of Chapter 65, 1985 Session Laws of Kansas and with K.S.A. 12-1,117, there is hereby established a municipal equipment reserve fund. A municipal equipment reserve fund is for the purpose of financing the acquisition of equipment. moneys may be budgeted and/or transferred to such fund from any source which may be lawfully utilized for such purposes, including but not limited to, equipment use charges from various departments and agencies of the city, the general fund, water fund, electric fund, refuse fund, and sewage disposal fund. Moneys in the fund are to be used to finance the acquisition of equipment and may be used to finance the acquisition of equipment and may be invested in accordance with the provisions of K.S.A. 10-131 and amendments thereto with interest thereon credited to such fund. Money credited to such fund not needed for the purposes for which so budgeted or transferred may be transferred by adoption of a resolution to the fund from which it came.

(b)   Moneys in the equipment reserve fund shall be invested in accordance with the provisions of K.S.A. 10-131 and amendments thereto, with interest earning credited to such fund.

(Ord. 562; Code 2003)