(A) Establishment of fund. A Restricted Donation Fund (Fund) is hereby established in the office of the Clerk-Treasurer.
(B) Source of revenues. Monetary donations for restricted purposes shall be deposited into the Fund.
(C) Purpose of fund. The monies contained in the Fund shall be used for the purpose for which the donation was received.
(D) Expenditures from fund. Claims for payment from the Fund shall be subject to approval of the Town Council.
(E) Amendment and termination. The Fund shall continue in this form until amended or terminated by ordinance. Unless indicated otherwise by ordinance, the proceeds of the Fund at termination shall be deposited into the General Fund.
(Ord. 48-2021, passed 12-13-2021)