(A) Fund established. There is hereby established and created a fund designated as the “Park and Playground Fund”, hereinafter in this section referred to as the “fund”.
(B) Purpose. There shall be deposited in the fund all cash payments received by the city pursuant to the provisions of § 158.061 of this code of ordinances.
(C) Section 158.061 of this code of ordinances payments. The payments shall only be used by the city for the acquisition of land for parks, playgrounds, public open space or storm water holding areas or ponds, development of existing parks and playground sites, public open space and storm water holding areas or ponds and debt retirement in connection with land previously acquired for the public purposes.
(D) Transfer of funds. Section 158.061 of this code of ordinances deposits may not be transferred out of the fund, except for the purposes enumerated in division (C) above. Other receipts may be transferred by the Council into the general fund for the purposes enumerated in division (C) above.
(Prior Code, § 203.05)