Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Establishing The Community Endowment Trust Fund In Accordance With Chapter 109 Of The City Of Hollywood Code Of Ordinances Relating To The Textile Recycling Collection Bin Program; Amending The Fiscal Year 2018 Adopted Operating Budget (R-2017-288).
Body
Staff Recommends: Approval of the attached Resolution.
Explanation:
On November 15, 2017, the City Commission passed and adopted Ordinance No. PO-2017-21, which approved the establishment of a textile recycling collection services program throughout the City. Section 109.02(E) of the City of Hollywood Code of Ordinances states that a Community Endowment Trust Fund will be established by the City Commission to set forth the parameters for expending the revenue received by the program.
The Acting Police Chief hereby recommends that the City Commission adopt Community Endowment Trust Fund parameters as more specifically set forth in Exhibit "A" attached hereto and incorporated herein by reference. In accordance with Section 109.02(E) of the City of Hollywood Code of Ordinances, the City Commission hereby establishes the Community Endowment Trust Fund. These revenues and expenditures will be collected and made out in accordance with Section 109.02(E) of the City of Hollywood Code of Ordinances, the City Commission hereby establishes the Community Endowment Trust Fund.
The program anticipates revenues to be received on a monthly basis in equal monthly payments with the first payment anticipated to be collected on or after December 1, 2017. The annual distribution of the revenues collected will not commence until receipt of the amounts as detailed in Exhibit "A". The Fiscal Year 2018 Operating Budget was adopted and approved by the City Commission pursuant to Resolution R-2017-288 on September 27, 2017.
Recommended for inclusion on the agenda by:
Dr. Wazir Ishmael, City Manager
Mel Standley, Assistant City Manager of Public Safe...
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