(A) An account is established for the deposit of monies for the Madison Advanced Internship Network (MAIN) Fund. The monies will come from donations, grants, fund raisers or from any other lawful source.
(B) This account shall be named the Madison Advanced Internship Network Fund and all funds contained in the account shall be expended only for the limited and exclusive purpose of financing the expenses directly related to the operation of the Madison Internship Initiative Program. The Mayor or his or her designee will manage the operation and control of the Program.
(C) The express and written approval of the Board of Public Works and Safety of the city shall be obtained prior to the expenditure of funds from the account.
(D) The account shall be nonreverting and exist perpetually unless terminated by a subsequent ordinance enacted by the Common Council.
(E) 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.
(Ord. 2014-3, passed 3-4-14)