(a) There is hereby established a special fund to be known as the Historic Downtown Trust Fund under the provisions of Ohio R.C. 5705.12.
(b) Monies deposited into the Historic Downtown Trust Fund shall be used by the Village as directed by Council, from time to time, to pay for the acquisition, removal, building, restoration, rehabilitation and other costs associated with the Historic Downtown District improvements.
(c) The Village Clerk shall deposit in the Fund all donations received by the Village to be used on the Historic Downtown Improvement Project. Additionally, the Clerk may deposit in the Fund sufficient sums, as directed by Council on a yearly basis, to pay for the Historic Downtown Improvement Project.
(d) Interest earned by this Fund shall be credited to the Fund.
(e) The Village Clerk is hereby authorized and directed to send a certified copy of this section to the Bureau of Inspection and Supervision of the Ohio Public Offices of the State of Ohio to receive approval to create a separate, segregated fund on the books of the Village pursuant to Ohio R.C. 5705.12.
(Ord. 3071. Passed 5-9-00.)