The Waterbury Democrat., 1939-11-24

SEC. 3s. Revolving working cap CITY CHARTER M
 The Democrat today presents an- other installment in the series ir which the text of Senator George T. Culhane's charter revision act l; being given in full.
 Today's installment takes in sec- tions 38-48, which include some oi the most important changes in the act:
 ital fufnd. A revolving working capital fund may be established by appropriation. within the gen. eral fund or any special fund, for financing the operations of any cafeteria. refectory. recreation cen- ter. refreshment booth or other similarly operated commercial en- terprisc. Receipts from the opera tions of any such activity so fi- nanced shall be credited to the working capital fund so provided, and may be expended in the man. ner provided herein. together with the original amount appropriated therefor. under allotments, with out further specific appropriation Eacn such fund shall lapse with the appropriation under which 1t was established, as provided here in, and the resources thereof shall constitute resources of the fund from which the appropriation was originally made available for ap- propriation for the next fiscal year for the same purpose or for any other purpose within the scope of the fund.
 SEC. 40. Petty cash funds. Any budget unit may establish a petty cash fund within the general fund, when provided for by appropria- tion and approved by the comp troller, for the purpose of making disbursements requiring prompt cash outlay, but not in any case to exceed one hundred dollars. The board of finance shall provide the procedure to be followed in estab- fishing, controlling and reiinburs- ing petty cash funds and in hand- ling transactions through them. The amount of any petty cash fund shall lapse with the appro- priation on which 1t based, but such fund may be established by appropriation for the next en- suing fiscal year.
 { SEC. 41. Special deposit fund. There Is hereby created a special deposit fund, consisting of all moneys received by the city or any department or officer there- of, as guarantees for the payment of any costs, charges or damages accruing or liable to accrue to the city, or for the performance of any specific act, including all moneys deposited as bail to secure the liberation of persons accused of offenses against the public, all moneys deposited by bidders on contracts to insure their entering into contracts awarded them. Any funds so deposited may be with drawn upon complying with such rules and regulations as may be prescribed by the board of finance
 SEC. 42. Board of finance may borrow for water fund. The board of finance may borrow, during any fiscal year, on behalf of the water fund, such amounts as needed up on recommendation of the city comptroller All such borrowing so made shall be general obligations of the city and shall be repaid on or before the twenty first day of December of. such fiscal year. and shall not exceed total amount of one hundred thousand dollars.
 SEC. 43. The board of finance may provide, at any time, for dis counting at current rates of in- terest, sixty per cent of all sums assessed for taxes but not yet pay able, less the amount of all de- ficiency appropriations. Said board shall have power, in the name of the city, to borrow such sums from time to time, as in it's opin- ion may be needed for city pur- poses. in anticipation of such tax. es as shall have been previously laid and not yet due and payable. and for no other purpose. except