(A) The City Council does hereby specifically authorize the Park Board to establish a non-reverting fund to do the following:
(1) To establish a fund to deposit money, including gifts to the park system of the city; and
(2) To keep said monies, invest said monies for future development and improvements to the parks of the city including facilities, fencing, parking, streets, buildings, and landscaping.
(B) The fund shall be non-reverting and shall not be subject to attachment by the city for general fund, or other projects.
(C) The Park Board shall have full discretion as to spend-downs of this fund according to state and federal laws.
(Ord. 2007-04, passed - -2007)