[Adopted 12-4-1967]
In accordance with the provisions of Public Act No. 438 of the January 1967 session of the General Assembly,[1] there is hereby established a special fund which will be known as the "Park and Recreation Capital and Nonrecurring Expense Fund."
[1]
Editor's Note: C.G.S. § 7-129a.
[Amended 9-15-1980]
There shall be deposited in said fund all moneys received by the City, from whatever source and by whatever means, as gifts for park or recreation purposes; all moneys received by the City, from whatever source and by whatever means, as governmental grants or loans for park or recreational purposes; all moneys received by the City from the sale or voluntary or involuntary conveyance of land used for park and recreational purposes; and all moneys duly appropriated to said fund by the direction of the City Council.
Said fund shall be in the custody of the Treasurer of the City. All or any part of the moneys in said fund may, from time to time, be invested in any securities in which public funds may lawfully be invested. All income derived from such investments shall be paid into the fund and become a part thereof. The moneys so invested shall at all times be subject to withdrawal from such investment for use as provided in this article.
Annually, the Treasurer shall submit to the Director of Parks and Recreation and to the City Council a complete and detailed report of the condition of said fund, which report shall be made part of the annual report of the City.
[Amended 9-15-1980]
Upon authorization of the City Council, the moneys in said fund may be used for capital and nonrecurring expenditures incurred in any of the following: acquisition, development, improvement, maintenance and expansion of park and recreational lands; acquisition, erection, installation, maintenance, improvement, repair and replacement of park or recreational facilities and equipment; development, establishment and improvement of park or recreation programs; and any other capital or nonrecurring expenditure incurred for park or recreational purposes.
No budget proposed or approved or appropriation made for park or recreational purposes shall hereafter be reduced, ratably or otherwise, in consideration of any moneys in said fund.