(A) The revenue paid into the Parks and Recreation Fund shall be restricted to funds received by the town from Ameritech pursuant to Ameritech’s lease of tower space.
(B) Expenditures from the Parks and Recreation Fund shall be limited to the town’s parks and recreation expenses.
(C) The Parks and Recreation Fund shall be non-reverting at each year end and shall continue in existence unless and until terminated by a subsequent ordinance.
(D) In the event the Parks and Recreation Fund is terminated, any remaining balance in the Parks and Recreation Fund shall be paid into the town’s general fund.
(Ord. 01-2, passed 1-8-01)
Cross-reference:
Communications Fund, see § 33.15.