(A) There is hereby established a Park Nonreverting Capital Fund 0403 for the purpose of accounting for the receipts and disbursements of the city’s Rico Lawsuit Proceeds and other park capital improvements revenues.
(B) Monies deposited in said Fund shall be used as approved by the Common Council.
(C) Monies from said Fund may be disbursed only on approved claims allowed by the Common Council.
(D) Said fund shall be perpetual in nature; however, should the Fund terminate for any lawful reason, any balance of said Fund shall be disbursed as approved by the Common Council.
(Ord. 13-0019, passed 7-22-2013)