§ 66-174. Establishment and administration of sacramento transit fund and district transit accounts.
Latest version.
There is hereby created by the office of the County Auditor-Controller in the County
Treasury a special interest-bearing trust fund entitled the Sacramento Transit Fund,
comprised of a district transit account for each fee district established pursuant
to Section 16.87.090 [66-183]. Every transit fee collected in each fee district pursuant
to this chapter, excepting the administrative cost component, shall be deposited in
the Transit Fund and in the district transit account for the fee district where the
parcel responsible for paying the fee is located and shall be held in trust until
transferred by the Director at regular intervals to the Sacramento Regional Transit
District. Upon receipt of the transferred fees, the Sacramento Regional Transit District
shall administer the expenditure of the fees. The fees shall be placed in separate
funds, and shall be held in trust until disbursed as provided in Section 16.87.120
[66-188]. The Sacramento Regional Transit District shall make an annual report to
the Board indicating the status of the transit capital improvement program and the
funds.
