There is hereby established a fund which shall be referred to and be designated as the “airport fund.” The chief accountant is directed to establish this fund, as designated, in the city depository and in his accounts, and to place in such fund all airport revenues not otherwise disbursable. All revenues produced by operation of the airports shall be paid into this fund, and no disbursements shall be made therefrom except for the purpose of operating, maintaining and developing airports; all expenditures shall be made within the amounts and limits established by the airport budget for each fiscal year. It shall be the duty of the director of aviation to timely submit to the city manager an annual budget which has been reviewed by the airport board for preliminary approval and inclusion in the city manager’s annual budget presentation to the city council for adoption.
(Ordinance 898, sec. 5, adopted 2/10/1949; 1959 Code, sec. 3-4; Ordinance 5114, sec. 1, adopted 10/27/1966; 1983 Code, sec. 5-5; Ordinance 2010-O0091, sec. 1, adopted 12/15/2010)