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(4) On an annual basis, at least seventy (70) percent of the funds in the Lawful <br />Gambling Fund shall be allocated for expenditures for recreation, community and <br />athletic facilities; and <br />(5) Requests for fund expenditures, and donations toward fund expenditures, received <br />during the prior calendar year will be considered by the Park and Recreation <br />Commission and authorized by the City Council on a case by case basis,•—. <br />(d) This fund is not eligible for inter -fund loans. <br />6. Economic Development Authority. (Fund 9230) <br />(a) The Economic Development Authority Fund shall account for all revenues and <br />expenditures associated with City economic development activities within the City. <br />(b) Funding shall consist of the following sources: <br />(1) Revenues generated from economic development activities within the City; and <br />(2) Interest earnings on the Economic Development Authority Fund from the <br />distribution of pooled interest earnings. <br />(c) Expenditures shall consist of the following uses: <br />(1) Expenses in conjunction with the operation of the Economic Development <br />Authority; and <br />(2) Salaries, benefits and operating costs associated with the promotion and <br />management of economic development activities; and <br />(3) 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 />Economic Development Authority and City Council <br />(d) This fund is not eligible for inter -fund loans. <br />7. <br />- a) The Equipment Revolving Fund chill be used to account for resources to finance <br />the replacement/addition of City equipment, vehicles and/or building& and <br />facilities. <br />— (b) Funding cba11 crzxciot of the following sources: <br />(1) Interest earnings on tho Equipment Revolving Fund from the diFkribiatiari <br />of pooled interest earnings; and <br />(2) Trmsfcrs from the General Fund at year end for excess Genm1 Fund Revenue <br />as outlinod in the Excess/Deficient Crrn;ral Fund Revenue Policy (tt16 05 089). <br />(c) <br />(1) <br />1") <br />11) <br />Expenditurhall consist of the following uses: <br />Transfers to the General Fund to provide funding fix- annual ocerital ezrzir�nant <br />czaioha3cs as outlined in the five year Captal In pr&vo a°nt Plan nd tho a nual <br />Feral Fund Budget and authorized by nn;i�i:t, vote of City Council; and <br />Tikm3fers to the ✓x\x-al Fuld at year end for deficient Geno& Fund Revenue as <br />outlined in tho & eess/Deficient General Fund Rc iMuo Policy (#16 05 089); and <br />Traifers to the GenNat Fund for unscheduled, unbudgeted, rzaintenance <br />repair, wkfoc a.,h oost exceeds $10,000 and Council declared that an <br />Page 4 of 14 <br />