(a) There is hereby created a fund to be known as the Veterans Memorial Fund. All funds received by the City as a result of sales of bricks or plaques shall be paid into such separate fund.
(b) Expenditures shall be made from the Veterans Memorial Fund for the purpose of the maintenance or improvement of the Veterans Memorial and only upon prior approval by the Veterans Memorial Commission.
(c) The Mayor and or Director of Finance are hereby authorized to accept on behalf of the City all gifts of money or other items or things of value for the purposes provided in subsection (b) hereof.
(d) Notwithstanding the provisions of subsection (e) of Section 135.07, net interest earned on the investment of idle funds in the Veterans Memorial Fund shall be credited to such fund.
(e) The Director of Finance is hereby authorized and directed to make application to the Bureau of Inspection of the State of Ohio for approval of the creation of the Veterans Memorial Fund pursuant to the provisions of Ohio R.C. 5705.12.
(Ord. 1997-46. Passed 12-11-97.)