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(A) The Mayor shall appoint a committee composed of no less than five and no more than 17 residents of the village, to advise and consult with the City Manager with respect to the administration of the fund and the application of available funds for specific uses within the uses and purposes of the fund as set forth in § 36.22.
(B) The Mayor shall appoint a member of Council to the Committee, with all the same duties and privileges belonging to the other members.
(C) Each member of the advisory committee shall serve 2, three-year terms. A member may serve one additional year as Chairperson.
('80 Code, § 36.19) (Ord. 21-62, passed 5-22-62; Am. Ord. 8-76, passed - - ; Am. Ord. 3-78, passed 2-6-78; Am. Ord. 11-19, passed 10-21-19)
(B) In the event the trustee is unable to carry out the uses and purposes for any reason and it becomes necessary to terminate or dissolve the trust, upon a determination thereof by the county court of common pleas, the moneys and assets of the fund shall be placed in the capital improvements reserve fund of the village and the trust shall cease.
('80 Code, § 36.20) (Ord. 21-62, passed 5-22-62)
(A) There is hereby created within the Green Areas and Recreational Fund of the village the Green Areas Acquisition Fund, and it is hereby directed that a separate account be set up on the financial records of said Green Areas Fund.
(B) Any contributions or appropriations placed in the Acquisition Fund shall be held in the Fund and utilized for the purchase of real property to be used as green areas.
(C) The village may invest and reinvest the assets of the Acquisition Fund and the income thereof applied to the principal under the investment criteria set forth in § 36.28 hereof, or otherwise as provided by the laws of the state for municipal trustees.
(D) The village may, from time to time, place in or accept contributions to said Acquisition Fund, and when the contributions are placed therein, expenditures from the Acquisition Fund shall be in accordance herewith.
(Ord. 28-89, passed 10-23-89)
(A) There is hereby created within the Green Areas and Recreational Fund of the village the Green Areas and Recreational Unrestricted Fund, and it is hereby directed that a separate account be set up on the financial records of the Green Areas Fund.
(B) Any contribution placed in the Unrestricted Fund and any interest generated therefrom shall be held in the Fund and utilized for any purpose deemed appropriate by the Council for the care, preservation and improvement of the Green Areas of the village as well as acquisitions thereto, whether or not that specific purpose is set forth herein, or as a purpose of the Green Areas and Recreational Fund, the Green Areas and Recreational Endowment Fund, the Green Areas Acquisition Fund, or any other fund hereafter created for the enhancement of the green areas.
(C) The village may invest and reinvest the assets of the Unrestricted Fund and the income therefrom applied to the principal under the investment criteria set forth in § 36.28 hereof, or otherwise as provided by the law of the state for municipal trustees.
(D) The village may, from time to time, place in or accept contributions to said Unrestricted Fund, and when the contributions are placed therein, expenditures from the Unrestricted Fund shall be in accordance herewith.
(Ord. 28-89, passed 10-23-89)
(A) There is hereby created within the Green Areas and Recreational Fund of the village a Green Areas and Recreational Endowment Fund. It is hereby directed that a separate account be set up on the financial records of the Green Areas and Recreational Fund of the village.
(B) Any moneys or other property placed in the Green Areas and Recreational Endowment Fund shall be held in the fund and the income only thereof used for the upkeep, maintenance, and administration of green and recreational areas of the village. Moneys from the Endowment Fund cannot be transferred to the Unrestricted Fund or the Acquisition Fund, established by §§ 36.31 and 36.32.
(C) The village may, from time to time, place in or accept contributions to said Green Areas and Recreational Endowment Fund, and when the moneys or property are placed therein, said Funds shall be administered in accordance herewith.
(D) Securities now held by the village in the Green Areas and Recreational Fund shall be accounted for as part of the Green Areas and Recreational Endowment Fund.
(Ord. 29-89, passed 10-23-89)
There is hereby created a Maintenance Fund within the Green Areas Fund. This Maintenance Fund shall hold, receive, and account for the income of the Endowment Fund. Unused income may accrue to the principal in the Endowment Fund. Unused income at the end of any calendar year may be accumulated, carried over, and spent from year to year; or the unused income may accrue to the principal in the Endowment Fund. The City Council shall make the decisions regarding the disposition of such unused income.
(Ord. 29-89, passed 10-23-89)
FUND FOR STANLEY M. ROWE ARBORETUM
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