123.05 CAPITAL IMPROVEMENT FUND.

   (a)    The Director of Finance is hereby authorized to create a separate fund for the City of Highland Heights to be known as the Capital Improvement Fund.

(Ord. 47-1972. Passed 12-12-72.)

   (b)    The Fund created by subsection (a) hereof shall receive, in addition to investment income as provided by Section 123.04, one-half of the receipts from the City admission and amusement taxes, plus any sums allocated by Council from time to time.

(Ord. 59-1978. Passed 10-10-78.)

   (c)    The Capital Improvement Fund, as created by subsection (a) hereof, shall be used for the purpose of funding new capital improvements within the corporate limits of the City, and to provide debt service on existing capital improvement projects.

   (d)    The Director of Finance shall keep an accurate accounting of all money deposited in the Capital Improvement Fund, and report to Council, from time to time as requested, as to the status of the Fund. (Ord. 47-1972. Passed 12-12-72.)