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(1) The financial resources in the cumulative reserve fund may accumulate from year to year until such time as the council by ordinance appropriates all or part of the resources in the fund for the purpose or purposes specified herein.

(2) The council may accept gifts or bequests for the cumulative reserve fund for equipment and capital purchases and may make contributions to the fund from time to time in such amounts as it deems necessary to further the purposes of the fund.

(3) Any monies in said fund at the end of the fiscal year shall not lapse nor shall the same be made available as a surplus or used for any other purpose or purposes than those specified, except as provided by state law. (Added by Ord. 84-149 § 1, Nov. 30, 1984).