17756kDINANCE NO. 17,756 '
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23S
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4 AN ORDINANCE AUTHORIZING THE DIRECTOR OF
5 FINANCE TO ESTABLISH A SPECIAL TRUST
6 ACCOUNT TO ACCOUNT FOR ALL DONATIONS
7 RECEIVED BY DEPARTMENTS OF THE CITY OF
8 LITTLE ROCK, ARKANSAS,
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12 WHEREAS, the City of Little Rock receives from time to time donations from
13 private citizens and corporations; and
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15 WHEREAS, there is a need to establish procedures that will provide for the
16 orderly collection, appropriation and disposition of such donations; and
17 WHEREAS, the donors need greater assurances that their gifts are used as
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intended in future years.
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20 NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF DIRECTORS OF
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THE CITY OF LITTLE ROCK, ARKANSAS:
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23 SECTION 1. The Director of Finance is authorized to set up a Special Master
24 Trust Account to account for all donations received by the City of Little Rock, Arkansas.
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26 SECTION 2. That any donations received with specific intended purposes are
27 automatically appropriated and can be expended by the City Manager as intended, and
28 that any donations which have no intended purpose would need to be appropriated by
29 the Board at the City Manager's request.
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31 SECTION 3. That the Director of Finance should insure that all donors review
32 appropriate receipts and certifications of the tax deductibility of their donations for
33 income tax purposes.
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1 PASSED: June 16, 1998 2*7
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ATTEST:
,.__.�
APPROVED AS TO FORM:
THOMA M. A ENTh-
CITY ATTORNEY
APPROVED:
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