Chapter 3.25
PARK DEVELOPMENT FUND
Sections:
3.25.020 APPROPRIATION OF FUNDS.
3.25.010 ESTABLISHED.
There is hereby established a fund to be called the Park Development Fund for the acquisition, replacement, expansion and improvement of parks, recreation facilities and open spaces of the community. (Ord. 4744, Added, 12/31/2000)
3.25.020 APPROPRIATION OF FUNDS.
a. All monies and other assets currently held by the Park and Recreation Facility Development and Roosevelt Capital Assets Funds together with all earnings thereon.
b. Collections from the operation of the Gold Mountain Golf Course, in excess of the sums necessary to pay the golf course debt service, operation and maintenance expenses and capital renewals and replacements.
c. Any additional funds received by the City which are committed to park and recreation facility development.
d. Donations and bequests specifically dedicated to the fund. (Ord. 4744, Added, 12/31/2000)
3.25.030 ADMINISTRATION.
The Park Development Fund shall be administered by the City Treasurer and the Mayor. All monies received by the fund together with investment earnings thereon, may be expended only by authorization of the City Council. The City Council will normally consult with the Parks and Recreation Commission before commitment of these funds. Expenditures shall be limited to items which address the community’s park, recreational and open space needs. (Ord. 4744, Added, 12/31/2000)