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(a) Establishment of Fund. The War Memorial Reserve Fund is established as a category six fund to receive 15 percent of the annual revenues derived from the use of the buildings under the jurisdiction of the War Memorial Board of Trustees as provided in Section 27.3 of the San Francisco Administrative Code.
(b) Use of Fund. Monies in the fund shall be expended for necessary improvements, additions and reconstruction and replacements due to physical and functional depreciation, to the buildings under the jurisdiction of the War Memorial. The Board of Trustees of the War Memorial shall have full power and authority to determine the character and the nature of the improvements, additions and reconstruction and replacements due to physical and functional depreciation to be made from the reserve.
(c) Exceptions to Fund Category. In no event shall the total amount in the reserve exceed $500,000.
(Added by Ord. 316-00, File No. 001911, App. 12/28/2000)