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(3) Interest earnings on the Revolving Loan Fund from the distribution of pooled interest <br />earnings. <br />(c) Expenditures shall consist of the following uses: <br />(1) Loans to small businesses are to be used on eligible costs such as land <br />improvements, purchase or renovation of building, purchase machinery or <br />equipment, building construction, leasehold improvements, or any authorized <br />expenditure, provided that no funds are to be used for management fees, financing <br />costs, franchise fees, debt repayment or consolidation, moving costs, refinancing <br />and operating costs or working capital; and <br />(2) The maximum loan available from the Revolving Loan Fund to an eligible project <br />is limited to $300,000 or 40% of total project cost, whichever is less; and <br />(3) The minimum loan amount available from the Revolving Loan Fund to an eligible <br />project is $25,000. <br />(d) This fund is eligible for inter -fund loans. <br />4. Peace Officers Fund. (Fund 9290) <br />(a) The Peace Officers Fund shall be used to account for public safety restricted <br />revenues which must be used exclusively for public safety expenditures and other <br />expenditures as specified. <br />(b) This fund is eligible for inter -fund loans. <br />5. Lawful Gambling Fund. (Fund 9270) <br />(a) The Lawful Gambling Fund shall be used to account for revenues from lawful <br />gambling received by the City in accordance with Code chapter 26 article V; and <br />(b) Funding shall consist of the following sources: <br />(1) Lawful gambling proceeds received in accordance with Code chapter 26, article V; <br />and <br />(2) Outside donations from lawful gambling proceeds; and <br />(3) Interest earnings on the Lawful Gambling Fund from the distribution of pooled <br />interest earnings. <br />(c) Expenditures shall consist of the following uses: <br />(1) Expenditures for recreation, community and athletic facilities, as adopted in the <br />annual Capital Improvement Program; and <br />(2) Expenditures for community programs and/or services, intended primarily for <br />persons under age 21; such programs that relieve the effects of poverty, <br />homelessness, or disability and such programs that provide activities and facilities <br />for youth. (Other community programs not eligible to be funded here, will be <br />considered as part of the annual General Fund Budget process on a case -by case <br />basis provided they serve a public purpose and can provide written quantification <br />of services to the city); and <br />Ordinance #25-12 <br />Page 3of13 <br />