(A) Fund established. The Common Council does determine that a need exists for the creation of the City of Rising Sun Bicentennial Fund, whereby monies received associated with the Bicentennial Celebration may be kept in a separate fund.
(B) Purpose of the Fund. The funds on deposit in the City of Rising Sun Bicentennial Fund may be used for costs associated with the Bicentennial Celebration and for depositing revenue received from grants, sponsorships and donations, any other funds deemed appropriate for deposit into Bicentennial Fund, in order to offset the city’s cost of the Bicentennial Fund.
(C) Termination of funds; transfer of funds. The City of Rising Sun Bicentennial shall remain in existence and remain perpetual in its terms until amended or terminated by subsequent ordinance enacted by the Common Council; and, if and when a subsequent ordinance enacted by the Common Council; and if and when a subsequent ordinance is passed to terminate the life of the City of Rising Sun Bicentennial Fund, any fund balance existing at that time, if not otherwise provided for in said subsequent ordinance, shall be transferred to the city General Fund.
(Ord. 2013-10, passed 12-5-13)
Editor’s note:
Bicentennial Fund terminated by Ordinance 2016-14, passed 8-4-16.