(A) The City Council forbids the Recreation and Tourism Commission to issue revenue bonds or to borrow money beyond the fiscal year without the express approval of the City Council. The fiscal year shall begin on July 1 of each year and terminate on the following June 30. KRS 91A.390(7).
(B) The Commission is strongly encouraged to obtain approval of City Council for any purchase or projects that are estimated at a cost of $10,000 or more, in obtaining approval the Commission will provide to Council any and all documents, plans, data, research, appraisals, blueprints, etc. regarding the purchase or project.
(C) The books of the commission and its account as established in KRS 91A.390(2) shall be audited as provided in KRS 65A.030. The independent certified public accountant or Auditor of Public Accounts shall make a report to the commission, to the associations submitting lists of names from which commission members are selected, to the appropriate chief executive officer or officers, to the State Auditor of Public Accounts, and to the local governing body or bodies that established the commission that was audited. A copy of the audit report shall be made available by the commission to members of the public upon request and at no charge.
(Ord. 2017-004, passed 4-13-17)