[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.