There is created within the General Trust and Agency Fund, a trust fund account to
be known as the
Artificial Reef Trust Fund
(the "Fund"), into which shall be deposited all gifts, donations, contributions, grants
and other sums of money to be used to provide funding for artificial reef construction,
artificial reef monitoring, securing, storing, surveying, transporting, and environmentally
cleaning artificial reef material, and educational outreach regarding artificial reefs.
All sums placed into the Fund, which shall include all interest earned or accrued
thereon, shall not lapse at the close of any fiscal year, but instead shall carry
over to the next fiscal year. Subject to prior appropriation by Council, the Director
of Finance and Administration, or a designee, is authorized and directed to make disbursements
from the Fund upon the written requisition of the Director of the Neighborhoods Department,
or a designee.
