A. There is hereby established within the city of Coeur d'Alene a capital improvement fund which shall be known and cited as the Coeur d'Alene parks and recreation capital improvement fund. The levy or appropriation to such fund shall not exceed in the aggregate in any one year more than four-hundredths of one percent (0.04%) of the market value for assessment purposes of the city of Coeur d'Alene in that year. The total amount of such fund shall never exceed in the aggregate four-tenths of one percent (0.4%) of the market value for assessment purposes of the city of Coeur d'Alene. The fund shall not be subject to the provisions of section 50-1014 of the Idaho Code (which provides that the city council may transfer an unexpended balance in 1 fund to the credit of another fund).
B. The purposes for which the Coeur d'Alene parks and recreation capital improvement fund may be used are as follows:
1. The acquisition of land for public parks and/or recreational facilities.
2. The construction of public facilities for parks and/or recreational activities.
3. The improvement of Coeur d'Alene public parks and recreational facilities.
C. None of such funds shall be expended unless specifically appropriated by the city council pursuant to sections 50-1001 through 50-1003, both inclusive, of the Idaho Code. (Ord. 3382 §17, 2010)