There is hereby established a fund to be designated and known as the "park improvement fund."
(Ord. 2550 § 2, 2024)
The park improvement fund shall derive its monies by direct appropriation in the budget from tax levies or other sources of anticipated revenue, by appropriation or budgetary transfers made from other funds of the city, from public donations, from the sale of any park property or equipment, or from proceeds received from park facility rentals, special events, or other revenue-generating activities that involve or relate to the city's parks and recreational facilities.
(Ord. 2550 § 3, 2024)
The monies in the park improvement fund shall be used for the acquisition, construction, alteration, repair, or maintenance of park facilities and improvements, recreational and natural areas, plazas, public gardens, open/green spaces, paths and trails, greenways, and other similar uses.
(Ord. 2550 § 4, 2024)
Fund appropriations shall not lapse at the end of a budget cycle. Any unexpended funds remaining in the park improvement fund shall be carried forward and accumulate from year to year until expended for the purposes set forth in CMC § 3.84.030, unless otherwise directed by the city council.
(Ord. 2550 § 5, 2024)