(A) Fund established. There is hereby established a fund to be known as the Airport Rescue Plan Act Grant Fund, (ARPA) Fund.
(B) Sources of funding. The source of funding includes monies allocated to the city from the American Rescue Plan Act of 2021 (ARPA).
(C) Uses of funding.
(1) The city shall only appropriate and use the funds to cover costs incurred by the Peru Municipal Airport for the following:
(a) To respond to the public health emergency with respect to the Coronavirus Disease 2019 (COVID-19) or its negative economic impacts, including assistance with funding for costs related to operations, personnel, cleaning, sanitation, janitorial services, combating the spread of pathogens at the airport, and debt service payments. Airport Rescue Grant amounts to specific airports are derived by legislative formula (see § 7102 of the Act).
(b) The purpose of this Airport Rescue Grant is to prevent, prepare for, and respond to the Coronavirus pandemic. Funds provided under this Airport Rescue Grant Agreement must be used only for purposes directly related to the airport. Such purposes can include the reimbursement of an airport’s operational expenses or debt service payments in accordance with the limitations prescribed in the Act. Airport Rescue Grants may be used to reimburse airport operational expenses directly related to Peru Municipal incurred no earlier than January 20, 2020.
(c) Airport Rescue Grants also may be used to reimburse a sponsor’s payment of debt service where such payments occur on or after March 11, 2021. Funds provided under the Airport Rescue Grant Agreement will be governed by the same principles that govern “airport revenue.”
(2) The Common Council shall adopt a plan which provides details for the use of funds.
(D) Duration of fund. The Airport Rescue Plan Act Grant Fund (ARPA) shall exist until terminated by ordinance of the Common Council. Monies from this fund may not be transferred to another fund of the city.
(Ord. 5-2022, passed 2-7-22)