(a) There is established a Non-Reverting Sidewalk Program Fund.
(b) The funds contained in the Non-Reverting Sidewalk Program Fund shall be received and deposited therein from all lawful sources in accordance with applicable law.
(c) The funds in the Non-Reverting Sidewalk Program Fund shall only be used for the Carmel Sidewalk Program.
(d) Monies in the Non-Reverting Sidewalk Program Fund shall not be transferred into the General Fund, except as provided by applicable law.
(e) The Non-Reverting Sidewalk Program Fund shall be administered by the Department of Community Services.
(f) The funds contained in the Non-Reverting Sidewalk Program 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 in the Non-Reverting Sidewalk Program Fund.
(g) In the event the Non-Reverting Sidewalk Program Fund is terminated, all unexpended funds maintained therein shall be distributed to the City and deposited in the General Fund.
(Ord. D-2559-20, § 1, 12-7-20)