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Sec. 22-15. Educational trust fund established from recycling program for
scholarships to children of certain city employees; conditions for implementation.
The moneys received by the city from the recycling of newspapers and other salvageable
materials ("recycling program") shall be separately received, maintained and accounted for in an
independent fund account to be held in the same manner as a trust account by the city for an
educational fund hereby established upon the conditions as set forth in this section. The funds
received, pursuant to the city's recycling program, shall be the subject of a separate appropriations
ordinance to be adopted by the city commission and separately administered by appropriate
personnel of the city. Upon the accumulation of $1,000,000.00 in funds received.through this
recycling program, all interest, as it accrues upon such principal amount, shall be utilized, subject to
the sufficient accrual of interest, to pay for up to 15 scholarships, awarded annually, to educational
institutions for the employees of the department to attend educational programs or for commercial
drivers license certification; in addition up to 15 scholarships shall be awarded annually to college
level educational institutions for the children or legal dependants of the employees of the
department, as determined by the city commission to have the greatest need for such scholarships;
each scholarship award shall not exceed $3,000.00 annually. In the event the interest accrued upon
the $1,000,000.00 in this fund is insufficient to pay for the full amount of each scholarship, a lesser
amount of scholarship will be awarded by the city commission. Awards will be based on
recommendations from the director of the solid waste department. Said recommendations will be
made based upon criteria established by the director of the solid waste department and approved
by the city commission. The director of finance, or their designee, shall make financial reports
regarding the status of such fund to the city commission, at its request. The city commission may
authorize the city administration to establish additional criteria for selecting eligible qualified
recipients from the department.
(Ord. No. 10654. § 3, 10-12-89; Code 1980, § 22-13.1; Ord, No. 12258, § 2, 7-25-02; Ord. No. 13194, § 2, 9-27-10;
Ord. No. 13318, § 2, 3-8-12: Ord. No. 13330, § 2, 7-26-12)
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