(A) (1) Establishment. It is in the best interest of the City of Peru, to establish a nonreverting CARES ACT Fund within the budget of the City of Peru.
(2) 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.
(3) Uses.
(a) The city shall only appropriate and use the funds to cover costs incurred by the city by December 31, 2024 for the following:
1. To respond to the public health emergency with respect to the Coronavirus Disease 2019 (COVID-19) or its negative economic impacts, including assistance to households, small businesses, and nonprofits, or aid to impacted industries such as tourism, travel, and hospitality;
2. To respond to workers performing essential work during the COVID-19 public health emergency by providing premium pay to eligible workers of the city that are performing such essential work, or by providing grants to eligible employers that have eligible workers who perform essential work;
3. 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
4. To make necessary investments in water, sewer, or broadband infrastructure.
(b) The Common Council shall adopt a plan which provides details for the use of funds.
(4) Duration. This Fund shall exist until terminated by ordinance of the Common Council. Monies from this Fund may not be transferred to another fund of the city.
(B) Internal control policy. The city adopts an ARP internal control policy by reference. A copy of this policy is attached to Ord. 7-2021, adopted May 3, 2021, and is available for public inspection in the office of the City Clerk during normal business hours.
(Ord. 6-2021, passed 5-3-21; Am. Ord. 7-2021, passed 5-3-21)