(A) There is created a Special Non-Reverting Capital Improvements Fund for the city’s Park and Recreation Department. The Fund shall be cumulative and none of the moneys deposited into the Fund shall revert to the General Fund or be used for any purpose other than capital improvements, as herein defined.
(B) The Common Council may include, but shall not be required to include, in the city’s Park and Recreation Department’s budget an item of $50,000 each year as an appropriation to the Special Non- Reverting Capital Improvements Fund.
(C) The city’s Park and Recreation Department may use funds from the Special Non-Reverting Capital Improvements Fund for the purpose of acquiring land, engineering and constructing an extension of the community trail and greenway with all details concerning said construction to be approved by majority vote of the city’s Park and Recreation Board.
(D) The city’s Park and Recreation Department may use funds from the Special Non-Reverting Capital Improvements Fund for the purpose of acquiring land for new parks with the decisions concerning the acquisition of said land to be determined by the city’s Park and Recreation Board.
(E) The city’s Park and Recreation Department may use funds from the Special Non-Reverting Capital Improvements Fund for the purpose of repairing and improving existing capital assets with all details concerning said improvements and repairs to be approved by majority vote of the city’s Park and Recreation Board.
(F) (1) The city’s Park and Recreation Department shall deposit into the Special Non- Reverting Capital Improvements Fund any donations which contain restrictions on the use of the donation, set by the donor, that are consistent with the uses of the Special Non-Reverting Capital Improvements Fund.
(2) 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.
(G) Funds deposited into the Special Non- Reverting Capital Improvements Fund may be expended only by resolution of the city’s Park and Recreation Board.
(Prior Code, § 33.70) (Ord. A-90-11, passed 8-14-1990; Ord. A-03-01, passed 2-11-2003; Ord. A-07-01, passed 1-23-2007)