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(A) An account is established within the budget of the Common Council to assist fire companies, which provide services to the city, with the purchase or replacement of fire equipment.
(B) The express and written approval of the Board of Public Works and the Madison City Fire Chief shall be obtained prior to the expenditure of funds from the account for the purchase or replacement of fire equipment.
(C) Except as otherwise stated herein, funds contained in the account shall be expended only to assist qualified fire companies in the purchase of motorized fire equipment or in the replacement of motorized fire equipment.
(D) Funds contained in the account may be expended to refurbish existing equipment if the refurbishment is approved in advance by the Board of Public Works and the Madison City Fire Chief and if, after the refurbishment, the restored equipment meets current NFPA standards.
(E) Any and all equipment purchased with funds disbursed from the account shall comply with current NFPA standards.
(F) The account shall be nonreverting and exist perpetually unless terminated by a subsequent ordinance enacted by the Common Council.
(G) If the account is terminated by a subsequent ordinance enacted by the Common Council, the remaining balance of the terminated account shall revert to the general budget of the Common Council of the city.
(Ord. 1993-39, passed 12-21-93)