(A) The Town of Akron establishes a special non-reverting Akron Park Board Operating Fund for park purposes from which expenditures may be made by appropriation of the Akron Park Board.
(B) The Town of Akron establishes a special non-reverting Akron Park Board Capital Fund for the purposes of acquiring land and making specific capital improvements from which expenditures may be made by appropriation of the Town Council.
(C) Receipts from the operation of park properties, together with gifts specified for operational purposes of the park shall be deposited into the Akron Park Board Operating Fund by the town’s fiscal officers.
(D) Receipts from the sale of surplus property, gifts or grants to the capital fund shall be deposited by the town’s fiscal officers into the Akron Park Board Capital Fund, unless, by joint resolution of the Park Board and the Town Council, or by written direction of the donor, the funds are directed to the Operating Fund or to the town’s General Fund.
(Ord. 12-17-02, passed 12-17-02)