A. Capital Projects Fund Created: All funds received from leases on special use facilities and public buildings in city parks, including, but not limited to, Memorial House in Memory Grove, Chase Home in Liberty park, Raging Waters, Derks Field and Oak Hills Tennis Center, shall be placed in the parks' capital projects fund and kept separate and apart from all other city funds. For purposes of this section, the term "special use facility" shall not include any facility for which a fee is charged pursuant to chapter 15.16 of this title with the exception of Oak Hills Tennis Center.
B. Use Of Funds: This fund shall be used for capital developments, improvement and repairs within the city parks and recreation system, including the renovation of existing park facilities, and the creation of new facilities. Revenue generated from the lease of a specific facility may be used for capital development and improvement of other park facilities, and need not be restricted to renovation of the facility generating the revenue.
C. Administration: The collection, accounting and expenditure of funds shall be in accordance with existing fiscal policy of the city and the fund shall be administered by the department of public services. (Ord. 45-93 § 30, 1993: Ord. 49-88 § 1, 1988)