(A) There is hereby created a special nonreverting capital fund to be entitled Special Park Nonreverting Capital Fund.
(B) The Common Council directs that the proceeds from the sale of all timber, land, equipment and other special proceeds generated or created within the city park system shall be deposited in the aforementioned special nonreverting capital fund.
(C) The city Board of Parks and Recreations shall include in each annual budget hereafter an item requesting appropriations, if any, from the special nonreverting capital fund here established.
(D) No funds may be withdrawn from the special nonreverting capital fund here established, except for the following purposes, and then only upon a vote of the Common Council approving such appropriation as a part of the Park Board's budget:
(1) For the purchase or lease of land for park and recreation uses;
(2) For the purchase or lease of park equipment; or
(3) For the purchase or lease of any goods, services, or personal property to be used or enjoyed in the parks of the city.
(E) No funds from the special park nonreverting capital fund, here created, may be used for wages, salaries, or the on-going operational expenses of the Board of Parks and Recreation.
(Ord. 28-1992, passed 7-6-92; Am. Ord. 9-1994, passed 3-7-94)