(A) One hundred and seventy five thousand dollars of the money received annually from the ambulance service fees shall be placed in a special Nonreverting Capital Fund that may not be withdrawn except for the purpose for which this Fund was created, unless the City Council repeals the ordinance establishing this Fund. The City Council may not repeal this section under suspension of the rules.
(B) When the Nonreverting Capital Fund reaches a total amount of $500,000 of cash on hand, then any monies received while the capital account is at that level will be placed in the city's General Fund. From that time on, the monies will continue to be placed in the General Fund until the balance in this special Nonreverting Capital Fund falls below the level of $500,000 because of the purchases of equipment of repair of equipment, then the monies shall be placed in a nonreverting capital fund until it returns to a balance of $500,000.
(C) Expenditures from this Capital Fund may be made only by appropriation of the Board of Public Works and Safety. Further expenditures from this Capital Fund may only be used for the purchase and repair of ambulances and any other equipment directly related to fire or ambulance service to be used by the Shelbyville Fire Department or Emergency Ambulance Service.
(`81 Code, § 32.17) (Am. Ord. 12-2693, passed 5-21-12; Am. Ord. 23-2985, passed 11-20-23)