(A) (1) All donations made to the city for the design, renovation and maintenance of the Baker Park swimming pool or the Baker Park pool building should be used exclusively for that purpose and same shall be deposited into this non-reverting fund. Funds shall be expended from this fund only for that purpose after approval by the Park Commission of the city. Said Commission shall have exclusive authority over said fund and may engage in fundraising efforts to accomplish the purposes set forth hereinabove.
(2) In addition to donations made to the city for the design, renovation and maintenance of the Baker Park swimming pool (now known as the Aquatic Center at Baker Park) and the Baker Park pool building (now known as the Walter Chambers Pool House) said fund shall also receive 20% of all revenues generated through admissions and sale of concessions at the Aquatic Center and said funds shall be exclusively used for said maintenance of that facility.
(B) It is intended that donations to this fund shall be tax- deductible to the donor pursuant to Internal Revenue Code Section 170(b)(1)(A)(v).
(C) Further, said funds may be used to satisfy principal and interest indebtedness, provided such indebtedness was incurred for the purpose of designing, planning, constructing and maintaining the New Castle public swimming pool and/or the Baker Park swimming pool building.
(Ord. 3449, passed 11-7-05; Am. Ord. 3569, passed 5-18-09)