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(a) The City declares itself Trustee of a fund to be known as “The Green Areas Fund of the City of Wyoming” and hereinafter referred to for convenience as the “Fund”.
(b) There is hereby appropriated from the General Fund of the City the sum of one thousand dollars ($1,000) for the establishment of the Fund; and upon the payment thereof into a separate bank account under the name set forth in subsection (a) hereof, such Fund shall be deemed to be established and the City the Trustee thereof.
(c) The purpose of the Fund shall be exclusively public for the benefit of the residents to provide for the care, maintenance, acquisition, administration of the green areas, woods, walking trails and bird sanctuaries within the City and such other grounds as are devoted by the owners to any of the aforesaid or to similar public purposes.
(Ord. 1697-1982. Passed 2-15-82.)
All contributions made to or purchases made by the City and specified to be used for such uses and purposes shall be deposited in the Fund and used, expended or conveyed only in accordance with this declaration of trust.
Contributions may be made in cash, securities or other property, tangible or intangible, or in real estate, and the Fund is hereby empowered to receive and the Trustee is empowered to purchase such property as may be beneficial to the uses and purposes of the Trust.
Any contributions may be specified to be an endowment gift and thereby permanently appropriated to the uses and purposes of the Fund, in which event the City, as such Trustee, shall use only the income derived from such contributions.
(Ord. 1697-1982. Passed 2-15-82.)
The Fund and all its assets shall be kept separate and apart from all other funds and assets administered by the City; provided, however, that any assets other than real property in the Fund may be commingled with other assets of the City for investment purposes.
(Ord. 1697-1982. Passed 2-15- 82. )
Proper books of account shall be kept in accordance with customary Municipal accounting and so that the status of the Fund shall be clearly and accurately shown at all times; and upon request of any resident of the City, a full report and accounting shall be rendered as promptly as the same can be prepared.
(Ord. 1697-1982. Passed 2-15-82.)
Expenditures and disbursements shall be made only upon the signature of the City Manager and the City Treasurer for the uses and purposes stated in Section 157.01(c) and in pursuance of the powers set forth in Section 157.07; provided, that the City Manager shall be the administrator of the Fund under the general control and direction of Council consistent with Municipal practice as established by the Charter of the City and the statutes of the State of Ohio.
(Ord. 1697-1982. Passed 2-15-82.)
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