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(a) Establishment. There is hereby established a Special Revenue Fund which shall be known and referred to as the Federal Emergency Management Fund. The Director of Finance is hereby authorized and directed forthwith to take such action and to make such records as may be necessary to establish the Federal Emergency Management Fund and thereafter to show its existence and condition at all times upon the proper records of the City.
(b) Money for Fund. All revenues derived from the Federal Emergency Management Agency shall be kept and maintained in a separate fund hereby designated as the Federal Emergency Management Agency fund.
(c) Authorized Expenditures. All expenditures for services meeting the criteria of the grant shall be paid into this fund.
(d) Custody of Fund. The Director of Finance shall have possession and custody of the Federal Emergency Management Fund and the supervision of all accounts with respect thereto. No further bond shall be required of the Director of Finance because of the Fund, but the Federal Emergency Management Fund shall be under the protection of any bond heretofore given to that may be given hereafter by the Director of Finance.
(Ord. 1-04. Passed 2-17-2004.)