All money received, collected from or otherwise arising out of the use or operation of any City golf course including, without limitation, gains and proceeds, interest earnings, green fees, fees from professionals, rentals from concessionaires and other tenants, shall be placed in the golf course revenue fund and shall be kept separate and apart from any other moneys of the City and shall remain therein until from time to time expended for the following purposes:
.010 For the acquisition, construction and completion of golf courses and improvements thereon or connected therewith, including without limitation, the acquisition by purchase, lease, condemnation, installment contract or otherwise of any real property or any interest therein that may be necessary or convenient for such purposes;
.020 For the payment of principal of and interest on any revenue bonds issued by the City for the acquisition and construction of golf courses and improvements thereon or connected therewith, under Section 1210 of the Charter (as the same now exists or may hereafter be amended) or under any other power of the City, whether derived from its Charter or general law;
.030 For the establishment of any reserve fund required by any contract for the acquisition of real property or by the proceedings for the issuance of any revenue bonds;
.040 For the necessary expenses of maintenance, operation and promotion of the City golf courses;
.050 For any other lawful purpose of the City. For the purpose of administration of the golf course revenue fund necessary and desirable subfunds and/or accounts may be used to show receipts, expenditures and balances. (Ord. 2864 § 2; October 28, 1970.)