A.   Fund Established: There is hereby established and created a fund to be known as the "Village of Wayne Historic and Rural Preservation Fund" (the "Preservation Fund"), which shall be maintained and administered by the village treasurer for the purpose of allowing the village to finance studies, research and other activities which may assist in the preservation of the rural and historic character of the village and protect the village from any potential adverse impacts of future development.
   B.   Receive And Disburse Funds: The village treasurer is hereby authorized to receive donations for deposit into the preservation fund. Such donations shall be in the form of a check, payable to the "Village of Wayne Historic and Rural Preservation Fund". The amounts received from said donations shall be and are hereby appropriated for the purposes specified in subsection A of this section, and shall be deposited into such fund for disbursement only for such purposes. All investment proceeds of the preservation fund shall be deposited in and shall be part of the preservation fund. Each project for which funds are disbursed shall be authorized by the village president and board of trustees. The village treasurer shall keep a true and accurate record of each donation made to the fund.
   C.   Return Of Bequests: The village treasurer shall determine, at the end of each fiscal year, the amount of monies received and disbursed from the preservation fund. If the corporate authorities determine that the preservation fund is no longer necessary or the funds therein remaining are no longer required, any unexpended monies shall be reimbursed to the individual donors, on a pro rata basis, by check made payable to such donors. (Ord. 01-18, 12-4-2001)