CHAPTER 12.28
LYNN F. PETT MURRAY PARKWAY GOLF COURSE
SECTION:
12.28.010: Renamed
12.28.020: Financial Standards
12.28.030: Green Fees
12.28.040: Golf Course Operation; Rentals
12.28.050: Discounts And Promotions
12.28.060: Rules And Regulations
12.28.010: RENAMED:
The golf course known as the Murray Parkway Golf Course shall also be known as the Lynn F. Pett Murray Parkway Golf Course. (Ord. 17-30)
12.28.020: FINANCIAL STANDARDS:
In order to maintain fiscal soundness of the Lynn F. Pett Murray Parkway Golf Course, the following financial standards are established:
   A.   Investments, Cash And Cash Equivalents Reserves (Reserve): The reserve level for the Golf Enterprise Fund (the "fund") is twenty five percent (25%) of operating revenue ("reserve level"). This level of reserves provides cash liquidity and operational stability in case of natural disasters, equipment failure, economic uncertainty and weather variations. As a result of onetime expenses, the reserve level may fluctuate, provided however that the reserve level should not be drawn upon for ongoing operational expenses. If reserves are drawn below the reserve level, the fund will replenish reserves to the reserve level within five (5) years. (Ord. 17-30)
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