(A) An account is established for the purpose of depositing monies from donations, appropriations from city accounts or from any lawful source for paying the required obligations for the City of Madison on the Phoenix House property.
(B) The account shall be named the Phoenix House Nonreverting Fund and all funds contained in the account shall be expended only for the exclusive purpose of paying expenses related to owning the Phoenix House property.
(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 enacted by the Common Council, the remaining balance of the terminated account shall revert to the general budget of the Common Council.
(Ord. 2021-5, passed 5-18-21)