(A) A fund is hereby established to be known as the land acquisition fund, into which shall be deposited the proceeds from the sale of the Land Acquisition Bond Anticipation Notes and any donations or gifts received by the village for the purchase of the property.
(B) The City Manager, or his or her designee, is hereby authorized to make expenditures from the fund for any lawful purpose that is consistent with the purpose for which the land acquisition fund is established, including, without limitation the redemption prior to maturity of Land Acquisition Bond Anticipation Notes to the extent that amounts on deposit in the land acquisition fund exceed the amount necessary to acquire the property pursuant to division (C) of this section.
(C) The City Manager is hereby authorized to expend up to $6,560,000 from the land acquisition fund for the purchase of the 304 acre parcel on Glendale Milford Road in Camp Dennison, Symmes Township, Hamilton County, Ohio, and incidental costs related to the purchase and/or the fees and costs associated with the issuance of the Land Acquisition Bond Anticipation Notes.
(Ord. 09-02, passed 4-22-02)