§ 35.46 G.O. BOND PROCEEDS FUND.
   (A)   Creation of a G.O. Bond Proceeds Fund. This Fund is to receive monies from the sale of general obligation bonds.
   (B)   Purpose of the Fund. The funds on deposit in the G.O. Bond Proceeds Fund are to be used for the development of the CR 600 Sports Park and the Field Operations Development located at the old Lions Club Park per approval of the Department of Local Government Finance.
   (C)   Total proceeds of the general obligation bond totaling $1,975,000 less the $5,000 for selling of the bonds will be deposited in the G.O. Bond Proceeds Fund. The bonds will mature in January 2028.
(Ord. 610, passed 4-21-2008)