Chapter 3.16
PARKS TRUST FUND
Sections:
3.16.010 Parks trust fund.
3.16.020 Administration of the fund.
3.16.010 Parks trust fund.
The administrative services director is hereby authorized to create and number a new fund to be known as the parks trust fund for the purpose of receiving donations from the city's citizens for, or in aid of, the cost of operating, maintaining and improving the city's parks and other related beautification, aquatic, and environmental protection programs such as the city's flower program, the Beach Ranger program and the Yost Pool. This fund is created and shall be maintained to the end that such donations shall be fully tax deductible and in accordance with the laws of the United States and the regulations of the Internal Revenue Service. [Ord. 3466 § 1, 2003].
3.16.020 Administration of the fund.
The council shall endeavor to utilize the interest earned by the fund in accord with the donor's wishes for the flower beautification, aquatics, environmental protection and other parks related programs. The council shall use its best efforts not to invade the principal of the fund unless called upon by unforeseen budgetary needs. In the event that the principal of the fund shall be invaded, the council shall first attempt to utilize the principal for other similar programs such as programs for the arts, community beautification, parks acquisition or similar purposes. Ultimately, however, the council shall maintain its absolute legislative discretion to use all available funds in the best interest of its citizens in accordance with the council's powers and duties pursuant to state law. [Ord. 3466 § 1, 2003].