(a) All revenues not specifically allocated to any other fund shall be deposited in the General Fund. The General Fund may provide for contingencies in such manner as determined by the City Council.
(b) Special funds may be created by ordinance in order to provide for the deposit of monies to be held or used for special purposes as determined by the City Council.
(c) The Capital Improvements Fund is hereby established for the purpose of paying the costs of capital improvements. The City Council may establish rules and regulations by ordinance for the administration of the Capital Improvements Fund.