(A) A non-reverting fund to be known as the Trafalgar Youth Committee Fund is hereby created.
(B) The Clerk-Treasurer is hereby authorized and directed to accept donations for the Trafalgar Youth Committee and deposit such donations into the Trafalgar Youth Committee Fund.
(C) Expenditures from the Trafalgar Youth Committee Fund are restricted to expenses related to the Trafalgar Youth Committee, and shall be payable only upon authorization of the Town Council.
(D) The Trafalgar Youth Committee Fund shall be perpetual and non-reverting at each respective year end and shall continue in existence until terminated by a subsequent resolution or ordinance.
(E) Upon termination of the Trafalgar Youth Committee Fund, any remaining balance in the Trafalgar Youth Committee Fund shall be disposed of by transfer or payment for purposes in harmony with the original donative intent of the donations made to the Trafalgar Youth Committee Fund, as determined in the discretion of the Town Council.
(Res. 2021-009, passed 7-15-2021)