[CC 1999 §2-276; Ord.
No. 92-20, 3-30-1992; Ord. No. 96-145, 11-20-1996]
A. Danner Park And Aquatic Center Reserve Fund. There is hereby
established a reserve fund for Danner Park and Chillicothe Municipal
Aquatic Center to be known as the "The Danner Park and Aquatic Center
Reserve Fund".
1. Restricted use fund. The monies placed in this fund are
restricted in use to repair, maintain, replace or upgrade equipment,
buildings, structures, facilities at Danner Park and the Chillicothe
Municipal Aquatic Center.
2. Source of funding. There should be placed in this fund all
interest earned and accrued from and after April 1, 1996, upon monies
deposited in the sales tax for Capital Improvement Fund, including
any reserves therein. Transfers shall be made as determined by the
City Auditor, but no less frequently than semi-annually.
3. Use of fund principal. The principal of the fund as established
is available for use, however, it is the express intention of the
City Council that, to the extent practical, only the income off of
said fund be used for the purposes set forth above to the end that
the fund may be a permanent reserve fund for Danner Park and the Aquatic
Center.
4. Authorization for use of the fund. Authorization for use
of the monies in this fund shall be upon approval by the City Council,
through approval of its annual budget or through special appropriation.
5. Auditor to establish fund. The auditor shall forthwith establish
this fund on the books of the City in consultation with the outside
auditors of the City.
B. Facility Enhancement Fund. There is hereby established by
the City a fund to be known as the "Facility Enhancement Fund".
1. Use of funds. The monies placed in this fund are to be used
for the repair, maintenance, replacement or upgrading of buildings,
structures and facilities of the City of Chillicothe.
2. Replacement of special project fund. This fund replaces
a fund of the City formerly known as the "Special Project Fund" established
by Ordinance No. 91-20. All monies currently in the "Special Project
Fund" shall be transferred to this fund and all monies required by
other ordinances, including Ordinance No. 91-20, to be paid to the
"Special Project Fund" shall be paid and transferred to this fund.
Ordinance No. 92-20 ("Hedrick Medical Center Contingency Fund") is
hereby amended to delete the words "Special Project Fund" and insert
the words "Facility Enhancement Fund".
3. Use of the funds. Although any money placed in this fund
may be used for the purposes set forth above, it is the intention
of the Council that, to the extent practical, only the income off
of this fund be used in order that a permanent fund may be maintained
for the purposes set forth above.
4. Auditor to establish fund. The auditor of the City is authorized
to establish this fund upon the books of the City, with the advice
of the City's outside auditors, and to transfer the monies to the
funds as set forth above.
5. Expenditures from the fund. Expenditures from this fund
shall be upon approval by the City Council, either in its annual budget
or by special appropriation.