HomeMy WebLinkAboutD-888 Parks Non-Rev. Cap. FundORDINANCE
D-888
AN ORDINANCE TO CREATE A NON-REVERTING CAPITAL
FUND FOR THE CARMEL/CIAY BOARD OF PARKS AND RECREATION
BE IT ORDAINED by the Common Council of the City of
Carmel, Indiana:
Section 1. Creation of Fund. There is hereby created
pursuant to Indiana Code 36-10-3-20 a special non-reverting
capital fund for the purpose of acquiring land or making specific
capital improvements upon properties owned by the Carmel/Clay
Board of Parks and Recreation ("Board"), the City of Carmel, or
the Clay Township Board of Hamilton County, and operated by the
Carmel/Clay Board of Parks and Recreation.
Section 2. Limitation on Use. Moneys withdrawn from such
funds shall be used by the Board for the acquisition of land
or making specific capital improvements upon land owned by the
Board, the City of Carmel, Clay Township Board of Hamilton
County, and operated by the Parks Board, all as determined by
official action of the Parks Board and the Common Council of the
City of Carmel.
Section 3. Effective Date. This Ordinance shall be in full
force and effect from and after its passage'and approval
according to the laws of the State of Indiana.
The life of the capital fund shall be perpetual until
terminated by subsequent ordinance duly enacted by the governing
body herein.
City of Carmel, Indiana, this ~ , 1993.
APPROVED and signed by the M~_ord~G the City of Carmel,
Hamilton County, Indiana, this of ~ , 1993.
r
City of Carmel, Indiana
ATTEST:
L. Hope '- ~eputy Clerk-Treasurer
City Of Carmel, Indiana