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(a) The City, pursuant to the request of the Carmel/Clay Parks and Recreation Board ("Park Board"), hereby establishes a Nonreverting Parks and Recreation Monon Center Operating Fund ("Monon Center Operating Fund") for the purpose of accounting for operating receipts and disbursements, revenues and other monies received or made for park purposes in connection with the City and Clay Township’s joint provision of recreation programs and facilities at the Carmel/Clay Parks and Recreation Monon Center (the "Monon Center"). The monies in the Monon Center Operating Fund shall be used for general maintenance, for the acquisition, repair and/or replacement of capital improvements, for equipment, for other property, goods and services necessary to the operation of the Monon Center, and as otherwise permitted by law. The Monon Center Operating Fund shall be administered and maintained by the Fiscal Officer of the City as hereinafter set forth:
(1) The funds contained in the Monon Center Operating Fund shall be received and deposited therein from the City, from Clay Township, and from all other lawful sources, in accordance with applicable law; and
(2) The funds contained in the Monon Center Operating Fund shall be accounted for and maintained separate and apart from all other City funds, and shall be invested with the interest earned thereon deposited into the Monon Center Operating Fund; and
(3) The funds held and accounted for in the Monon Center Operating Fund shall be withdrawn only for the purpose of maintaining, improving, and/or operating the Monon Center.
(4) All property acquired from funds held in the Monon Center Operating Fund shall be titled in the name of the Parks Board.
(b) The life of the Monon Center Operating Fund shall be perpetual, unless terminated by subsequent ordinance duly enacted by the City's legislative body.
(Ord. D-1611-02, 12-16-02; Ord. D-2018-10, As Amended, 12-20-10; Ord. D-2067-11, 11-7-11)
(a) The City, pursuant to the request of the Carmel/Clay Parks and Recreation Board ("Park Board"), hereby establishes a Nonreverting Parks And Recreation Capital Fund ("Parks Capital Fund") for the purpose of accounting for such monies as are appropriated by the fiscal body of the City or Clay Township for the purpose of acquiring specified real property, making specific capital improvements, or as otherwise permitted by law. The Parks Capital Fund shall be administered and maintained by the City as hereinafter set forth:
(1) The funds contained in the Parks Capital Fund shall be received and deposited therein from the City, from Clay Township, and from all other lawful sources, in accordance with applicable law; and
(2) The funds contained in the Parks Capital Fund shall be accounted for and maintained separate and apart from all other City funds, and shall be invested with the interest earned thereon deposited into the Parks Capital Fund; and
(3) The funds held and accounted for in the Parks Capital Fund shall be withdrawn only:
a) Upon proper appropriation by the legislative body of the City;
b) Upon written agreement between the City and Clay Township authorizing such expenditure; and
c) For the purpose of acquiring land, making specific capital improvements or as otherwise permitted by law in connection with the Carmel/Clay Parks and Recreation system.
(4) All property acquired from funds held in the Parks Capital Fund shall be titled in the name of the Park Board; and
(5) At such time as the City and the Township terminate their joint administration of the Carmel/Clay Parks and Recreation system, all unexpended funds maintained or contained in the Parks Capital Fund shall be distributed to the City and to the Township based upon the City and Township's proportionate monetary contributions to the Parks Capital Fund.
(b) The life of the Parks Capital Fund shall be perpetual, unless terminated by subsequent ordinance duly enacted by the City's legislative body.
(Ord. D-1613-02, 12-16-02; Ord. D-2067-11, 11-7-11)
(a) There is established a Carmel Housing Authority Fund.
(b) The Carmel Housing Authority Fund shall consist only of monies received by the Carmel Housing Authority, plus all investment earnings thereon.
(c) The Carmel Housing Authority Fund shall be funded by any means and used for any purpose authorized by applicable law, with all monies therein being properly receipted and disbursed.
(d) The Carmel Housing Authority Fund shall be administered by the fiscal officer of the City.
(Ord. D-1658-03, § 2, 11-17-03; Ord. D-2067-11, 11-7-11)
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