(A) Fund established. There is hereby established a fund to be known as the ARP Coronavirus Local Fiscal Recovery Fund.
(B) Sources of funding. The source of funding includes monies allocated to the city from the American Rescue Plan Act of 2021 and distributed to the city in 2021 and 2022.
(C) Uses of funding.
(1) The city shall only appropriate and use the funds to cover costs incurred by the city by December 31, 2024 for the following:
(a) For the provision of government services to the extent of the reduction in revenue of the city due to the COVID-19 public health emergency relative to revenues collected in the most recent full fiscal year of the city prior to the emergency that being 2019; or
(b) To make necessary investments in water, sewer, or broadband infrastructure.
(2) The Common Council shall adopt a plan which provides details for the use of funds.
(Ord. G-21-13, passed 5-4-2021)