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 utilize the interest earned by the fund in accord with the donors’ wishes for the flower beautification, aquatics, environmental protection and other parks related programs, within the powers granted by law. The council shall use its best efforts not to invade the principal of the fund. In the event that the principal of the fund is invaded, the council shall utilize the principal for the costs of operating, maintaining and improving the flower beautification, aquatics, environmental protection and other parks related programs. [Ord. 3852 § 1, 2011; Ord. 3466 § 1, 2003].