Del Rey Oaks Municipal Code Ch. 3.24 Bing Crosby Youth Tennis Fund

There is created a special trust fund under the supervision of the members of the city council as trustees thereof to be known as the "Bing Crosby Youth Tennis Fund."

(Prior code § 1-601)

A. Pursuant to a gift from the Bing Crosby Foundation the funds shall be used solely and exclusively for the purposes of establishing, creating, constructing and erecting championship tennis facilities for the benefit of the youth of the city and of the entire Monterey Peninsula area.

B. Said funds shall be established and maintained solely for the purposes herein enumerated and said fund shall be used for no other purposes.

(Prior code §§ 1-602, 1-603)

Recreational funds of the city out of its general fund may from time to time be transferred and deposited in said fund together with other gifts and charitable donations which may from time to time be made from citizens and said funds shall be constantly and continually maintained and audited and kept as a separate fund of said city for the sole purposes of maintaining, erecting, constructing and operating championship tennis facilities for the youth of the Monterey Peninsula.

(Prior code § 1-604)