(A) The revenue paid into the Community Day Celebration Fund shall be restricted to funds received from donations.
(B) Expenditures from the Community Day Celebration Fund are restricted to expenses related to Community Day Celebrations, and shall be payable only upon authorization of the Town Council.
(C) The Community Day Celebration Fund shall be perpetual and non-reverting at each respective year end and shall continue in existence until terminated by a subsequent ordinance.
(D) Upon termination of the Community Day Celebration Fund, any remaining balance of the Community Day Celebration Fund shall be disposed of by transfer or payment for purposes in harmony with the original donative intent of the donations made to the Community Day Celebration Fund, as determined in the discretion of the Town Council.
(Ord. 2015-06, passed 9-14-15)