When It Rains ...
The City Council has asked the City Attorney's Office to draft language for a potential measure that would allow citizens to vote on whether the city government could establish a so-called "rainy day" fund.
District 9 Councilor G.T. Bynum said once the City Attorney's Office has provided a draft of the proposal, members of the council would review it and decide whether to send it along to voters for inclusion on the November ballot. The creation of a rainy day fund -- essentially, a savings account to help fund city government operations during difficult economic times -- cannot be established without a change to the city charter, Bynum said.
"It's a great step in the right direction, though it's largely procedural," Bynum said of the council's decision to seek the draft language from the City Attorney's Office.
Many city officials have pressed for the creation of a rainy day fund during the past year, claiming it would help the city avoid the kind of cutbacks that have been implemented in the face of rapidly declining sales tax receipts. Hundreds of city employees have been laid off, while others have experienced furlough days and salary cuts to help the city balance its budget.
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