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(A) An account is established for the deposit of monies for a Madison Municipal Airport (MMA) Events Fund. The monies for this fund will come from donations, fundraisers, concessions, sponsor fees, appropriations from city accounts, grants or any other lawful source.
(B) The account shall be named the Madison Municipal Airport (MMA) Events Fund. All funds contained in the account shall be expended only for expenses incurred for special events conducted under the authority of the Madison Aviation Board, for donations to worthy charitable organizations, matching funds for grants and other related expenses for the continued success of these events.
(C) The express and written approval of the Board of Public Works and Safety 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 by the Common Council, the remaining balance of the terminated account shall revert to the general budget of the Madison Municipal Airport.
(Ord. 2016-1, passed 2-16-16)