(A) There is hereby established in the city a fund known as the "Art in Public Places Fund”, which shall be a depository for fees paid pursuant to this chapter and for public art-related monetary donations to the city.
(B) The Art in Public Places Fund shall be maintained by the Director of Finance and shall be utilized for the following purposes:
(1) Design, acquisition, installation, improvement, maintenance and insurance of public artwork displayed on city property. Public artwork acquired with money from the Art in Public Places Fund shall be the property of the city.
(2) Offering of performing arts programs on city property for the community.
(3) Offering of art education programs on city property for the community; provided, however, that not more than 5% of the fund's annual budget shall be used for this purpose.
(C) The Art in Public Places Fund shall be accounted for separately and shall not be used for general governmental purposes. In lieu art fees deposited into the Fund shall be expended for permitted purposes within five calendar years of deposit.
(Ord. 2004-03 § 2 (part), 2004; Ord. 2004-20 § 3, 2004)