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Lawful Gambling Fund. <br />The Lawful Gambling Fund shall be used to account for revenues from lawful <br />gambling received by the City in accordance with Code Section 7.61. <br /> <br />(b) <br /> (1) <br /> (2) <br /> (3) <br /> <br />Funding shall consist of the following sources: <br />Lawful gambling proceeds received in accordance with Code Section 7.61; and <br />Outside donations from lawful gambling proceeds; and <br />Interest earnings on the Lawful Gambling Fund from the distribution of pooled <br />interest earnings. <br /> <br />(c) <br /> (1) <br /> <br />(2) <br /> <br />(3) <br /> <br />(4) <br /> <br />Expenditures shall consist of the following uses: <br />Expenditures exclusively for recreation, community and athletic facilities, as <br />adopted in the annual Capital Improvement Program, intended primarily for <br />persons under age 21, provided that such facilities and activities do not <br />discriminate on the basis of a gender and that such revenue not be used for <br />operating equipment, supplies, wages or any other non-capital expenditure; and <br />It is intended that the expenditures will occur at no greater than a 50% match to <br />outside donations; and <br />Requests for fund expenditures, and donations toward fund expenditures, received <br />during the prior calendar year will be ranked each year by the Park and Recreation <br />Commission and authorized by the Council Finance Committee prior to May 31 <br />of each year; and <br />Capital purchases of $1,000 toward which donations are received and to which no <br />City expenditures are required may occur after review and approval by the Park <br />and Recreation Commission. <br /> <br />(d) This fund is eligible for inter-fund loans. <br /> <br />(a) <br /> <br />Economic Development Authority. <br />The Economic Development Authority Fund shall account for all revenues and <br />expenditures associated with City economic development activities within the <br />City. <br /> <br />(b) <br /> (1) <br /> (2) <br /> <br />Funding shall consist of the following sources: <br />Revenues generated from economic development activities within the City; and <br />Interest earnings on the Economic Development Authority Fund from the <br />distribution of pooled interest earnings. <br /> <br />(c) <br /> (1) <br /> <br /> (2) <br /> <br /> (3) <br /> <br />Expenditures shall consist of the following uses: <br />Expenses in conjunction with the operation of the Economic Development <br />Authority; and <br />Salaries, benefits and operating costs associated with the promotion and <br />management of economic development activities; and <br />Capital expenditures associated with economic development activities within the <br />City as detailed in the annual Capital Improvement Program or as directed by the <br />t?,conomic Development Authority and City Council. <br /> <br />Page 4 of 13 <br /> <br /> <br />