(A) There is established for and on behalf of the city’s Park and Recreation Department a Special Non- Reverting Restricted Donations Fund. Said Fund shall be cumulative and none of the moneys deposited into said Fund shall revert to the General Fund.
(B) Donations received by the city’s Park and Recreation Department which contain use restrictions shall be placed into the Special Non-Reverting Restricted Donations Fund.
(C) If the city’s Park and Recreation Board determines that a donation contains restrictions dictating that the donation is to be used solely for capital improvements consistent with the Special Non- Reverting Capital Improvements Fund, said donation may be deposited into the Special Non-Reverting Capital Improvements Fund instead of this Fund.
(D) Donations shall be deposited into the Fund only after said donations have been approved by the city’s Park and Recreation Board in the manner required by state law. Moneys deposited into the Fund shall be expended only for purposes consistent with the restrictions placed upon the gift by the donor. Moneys deposited into the Fund shall be expended only upon resolution of the city’s Park and Recreation Board.
(E) The Fund is allowed to accept grants with restrictions as well as donations and hold and administer said grants according to the rules of said fund.
(F) If the city’s Park and Recreation Board determines that a grant contains restrictions dictating that the grant is to be used solely for capital improvements consistent with the Special Non- Reverting Capital Improvements Fund, said grant may be deposited into the Special Non-Reverting Capital Improvements Fund instead of this Fund.
(Prior Code, § 33.75) (Ord. A-03-03, passed 2-11-2003; Ord. A-03-19, passed 9-9-2003)