(A)   There is hereby created a fund to be known as the “Art in Public Places Fund” (“Art Fund”) to account for fees paid pursuant to this chapter. This fund shall be maintained by the City Treasurer and shall be used solely:
      (1)   For the acquisition, installation, improvement, maintenance and insurance of an art work;
      (2)   To sponsor or support performing arts and/or outside art projects, including but not limited to the Pasadena Rose Parade Float;
      (3)   For the acquisition and improvement of real property for the purpose of displaying art work, which has been or may be subsequently approved by the city; or
      (4)   For maintenance of and utility charges related to property purchased pursuant to subdivisions (A)(1) and (A)(3) above.
   (B)   If real property purchased with monies from the Art Fund is subsequently sold, the proceeds from the sale shall be returned to the Art Fund.
(Ord. 4417, passed 9-10-01; Am. Ord. 4597, passed 3-26-12)