The Waterbury Democrat., 1939-08-30
LEGAL ADVERTISING

library endowment fund, subject to investment. Any deficiency which may occur in this fund shall be made good by mandatory approprta- ton from the general fund provided for in this act, of the amount Of such deficiency The board Of finance of the city shall designate a trust company doing business in the city as trustee of such fund. Such trustee may invest the pro- ceeds of such fund in mortgages of real estate in the state, unincum- bered, equal in value to twice the amount secured thereby, or in bonds of the United States or any New England state, or the state of New York, or any city or town in this state. Such fund shall not be sub- ject to the provisions of this char ter applicable to city funds in the hands of the city treasurer, but shall be subject to annual audit by the independent auditors provided for hereunder.
 Sec. 69. Bronson Library Income Fund. The receipts from invest- ments of the Bronson library en- dowment fund shall be paid by the trustee thereof to the city treasurer as they are received. Such receipts, with all other receipts of the library and with all contributions made from the general fund under ap- propriations for the support of the library, shall constitute a special fund to be known as the Bronson library income fund, and shall be l aI }v1 oaeardaf with their charter, only under ap- propriations for the operation, maintenance and permanent im- provement of the Silas Bronson library.
 Sec. 70. Water Fund. A water fund is established, which shall be maintained separate and distinct from any other fund off the city. This fund shall comprise all the resources and be subject to all lia- bilities of the water system, includ- ing the cost of permanent improve ments and the funded debt in- cured for the purposes of the water system. All revenues from opera tions of the water system shall ac- crue, and all receipts therefrom and from non-revenue sources in con- nection with the water system shall be paid, to the fund. All expenses of operation and maintenance, the cost of permanent improvements and interest on and retirement of funded debt of the system. shall be paid therefrom under appropria- tions, in accordance with this char ter. Any cash deficit that may oc- ;.a kt,;. l,n1 | rnNd by mandatory appropriation from the general fund provided for in this act of the amount of such deficit, and the rate of tax neces- sary to be levied therefore shall be shown on each tax bill rendered.
 Sec. Fl. Reserve Capital Funds. Any amounts of money set aside from any fund, authorized herein, to provide for the cost Of any pub lie improvements to be undertaken , at any time in the future, shall con- stitute separate and distinct fund, which shall be held and invested until expended for capital outlays under appropriations in accordance , with this charter.
 l Sec. 72. Revolving Working Capi- ] tai Funds. A revolving working ! capital fund may be established by l appropriation, within the general 5 fund or any special fund, for . financing the operations of any , cafeteria, refectory, recreation cen- . ter or refreshment booth or other : similarly operated commercial en- terprise. Receipts from the opera : tions of any such activity so financed shall be credited to the working capital fund so provided, } and may be expended in the man. ner provided herein, together with therefor, under allotments, without , further specific appropriations. Each such fund shall lapse with the ap- propriation under which it was established as provided herein, and the resources thereof shall con- stitute resources of the fund from which the appropriation was origin ally made and shall be available for appropriation for the next fiscal year for the same purpose or for any other purpose within the scope of the fund.
 Sec. B. Petty Cash Funds. Any budget unit may establish petty cash fund within the general fund, , when provided for by appropriation and approved by the comptroller. for the purpose of making disburse- ments requiring prompt cash out ) lay, but not in any case to exceed one thousand dollars The admins trative code shall provide the pro- cedure to be followed in establish ing, controlling and reimbursing petty cash funds and in handling transactions through them. The amout of any petty cash fund shall
 lapse with the appropriation on which 1t is based, but such funo may be reestablished by appropria- ton for the next ensuing fiscal year.
 Sec. "A. Special Trust Funds. In addition to any trust funds speci- fically provided for herein, the city council may accept any deed, be- quest, devise, gift or other contrihu- tion. for any purpose within the scope of its powers, and may pro- vide for the care and use Of any property so acquired, and for the custody, investment and expendi- ture of any moneys thereof and shall provide for the execution Of any trust In connection herewith, in any manner not inconsistent with this charter or with the ad- ministrative code or with law. The assets held under each such trust shall constitute separate and dis tinct fund and shall be held in-
 violate and the moneys thereof shall be invested for the purposes of such trust The income and any portion of the capital of any such fund made available for expendi- ture by the terms of the trust. may be transferred by appropriation from such trust fund to the general fund or any special fund applicable to the purposes for which such moneys are expendable, or may be set up in a special income trust fund for expenditure by appropria- tion therefrom and under such re- strictions as are imposed by the l