(A) Established. The Aviation Flight Instruction Nonreverting Fund 277 is created that the City Clerk-Treasurer will maintain for the BOAC.
(B) Funding. This Fund will be funded by all revenue from flight instruction services the CMA offers.
(C) Use. The Aviation Flight Instruction Fund will be used exclusively by the BOAC for the purpose of paying expenditures related to instruction, software licensing, flight instructor fees, insurance, aircraft facility and miscellaneous expenses maintenance, and any purpose related to the CMA’s flight instruction services.
(D) Non-Reverting fund. This is a non-reverting fund.
(Ord. 4-2015, passed 7-8-15)