A. Fund Created: There is hereby created a Hawley Charitable Gambling Fund which shall be held for safekeeping by the City in an account separate from any City funds. Such funds shall be deposited in a bank account designated "Hawley Charitable Gambling Fund". No expenditures shall be made from such Fund except upon resolution by the City Council, and then only for "lawful purposes" as defined by Minnesota Statutes, section 349.12, subdivision 25.
B. Contributions To Fund: Each organization within the City which is licensed by the State to conduct lawful gambling shall contribute ten percent (10%) of its net profit as defined by Minnesota Statutes, section 349.213 to the Hawley Charitable Gambling Fund. (Ord. 188, 1-13-1992)