(1) Creation. There is hereby created a special gas tax street improvement fund in accordance with the provisions of Section 2113 of the Streets and Highways Code of the state.

(2) Deposits in Fund. There shall be deposited in the gas tax street improvement fund all moneys received from the state that are required to be deposited in such fund and which shall be kept separate from all other city funds.

(3) Expenditures. No moneys shall be expended by the city from such fund except for purposes as are authorized by law and in accordance with the provisions of Division 1, Chapter 1, Article 5 of the Streets and Highways Code.

(4) Records. The city treasurer shall maintain records showing the status of the fund, all deposits therein and expenditures therefrom sufficiently detailed to prepare the reports required by the Code. (Ord. 476 § 8. 2002 Code § 2-6).