RESOLUTION NO. 2014-6
TOWN COUNCIL OF LEO-CEDARVILLE
A RESOLUTION ESTABLISHING A SPORTS COMPLEX/COMMUNITYCENTER DEVELOPMENT FUND FOR THE TOWN OF LEO-CEDARVILLE, INDIANA
WHEREAS, the Town Council of the Town of Leo-Cedarville received a donation from the Cedar Creek Lions’ Club on May 15, 2014 in the amount of $9,045.32, which donation was specifically earmarked to be used solely for the purpose of developing a sports complex/community center in Leo-Cedarville;
WHEREAS, it is possible that additional donations will be made to the Town that will also be earmarked for the purpose of developing the sports complexlcommunity center; and
WHEREAS, it is necessary to establish a fund in which to place such donated funds to insure that the funds are only used for the designated purpose.
NOW, THEREFORE, IT IS RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF LEO-CEDARVILLE, ALLEN COUNTY, INDIANA:
Section 1: THE FUND
There is hereby established the Town of Leo-Cedarville Sports Complex/Community Center Development Fund (“the Fund”). This is a non-reverting, Capital Projects Fund.
Section 2: REVENUE SOURCES FOR THE FUND
The donation made from the Cedar Creek Lions Club on May 15, 2014 in the amount of $9,045.32 shall be the original revenue source for the Fund. In addition, any other donations or grant funds from any other source which are dedicated to or otherwise restricted to the development of a sports complex/community center in the Town of Leo-Cedarville may be put into the Fund.
Section 3: AUTHORIZING EXPENDITURES
The Leo-Cedarville Town Council hereby appropriates the revenue in the Fund for use in developing a sports complex/community center in the Town of Leo-Cedarville including payment of all design, engineering, surveying, testing, and construction costs on any such project.
No funds, including other donations or grant monies, which are not restricted to the development of a sports complex/community center shall be deposited into the fund.
Section 4: TERMINATION OF FUND
The Fund shall terminate upon completion of a sports complex/community center and expenditure of all remaining money in the Fund.
Passed and adopted by the Town Council of the Town of Leo-Cedarville, Indiana on this 27th day of May , 2014.
FOR THE TOWN OF LEO-CEDARVILLE:
| John Clendenen
| Kevin Veatch
R. Paul Steffens
|Attestation of Clerk-Treasurer|
I, John Eastes , the Clerk-Treasurer for the Town of Leo-Cedarville, Indiana, hereby attest that the resolution set forth above was adopted by the legislative body of the Town of Leo-Cedarville on May 27, 2014 and signed by the Executive for the Town of Leo-Cedarville, and properly executed in my presence on May 27, 2014 .