(A) There is hereby created a fund known as the “City Art Fund” to account for fees paid pursuant to the program established by this chapter (the “Art in Public Places Program”). This fund shall be maintained by the City Treasurer, and shall only be utilized solely pursuant to this chapter.
(1) For the design, acquisition, commission, installation, improvement, maintenance, and insurance of an art work. Design fees may include any fee paid to an appropriate party for the development of a design concept and preparation of construction drawings, which are separate and apart from the cost of the fabrication and installation of an art work;
(2) To sponsor or support performing arts;
(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;
(4) During a fiscal year, for maintenance of and utility charges related to the art work purchased pursuant to division (A)(1), above; provided, that the total amount of expenditures made in any year from the City Art Fund for the purpose set forth in this division (A)(4), shall not exceed 10% of the total available amount of fees deposited, pursuant to this chapter, during the city’s fiscal year immediately preceding the expenditure; or
(5) For costs associated with administering the Art in Public Places Program, in an amount not to exceed 15% of the Art in Public Places Program allocation as set forth in § 154.021.
(B) If real property purchased with monies from the City Art Fund is subsequently sold, then the proceeds from the sale shall be returned to the City Art Fund.
(Ord. 1245, passed 9-15-04)