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Home My WebLink AboutO-1771ORDINANCE NO. 1771 AN ORDINANCE ESTABLISHING A CITY OF FAIRHOPE EMPLOYEE FUND FOR RECEIPT AND EXPENDITURE OF SALES FROM VENDING MACHINES BE IT ORDAINED BY THE GOVERNING BODY OF THE CITY OF FAIRHOPE, ALABAMA, AS FOLLOWS: SECTION I: ESTABLISHMENT AND PURPOSE OF CITY OF FAIRHOPE EMPLOYEE FUND The City of Fairhope may establish a fund known as the "City of Fairhope Employee Fund." The purpose of the fund shall be to account for the receipt and expenditure of funds derived from sales from vending machines located in all City buildings and facilitie s. The fund shall be established with funds presently collected from the sales. Receipts and expenditures of the funds shall be separately accounted for by City location. A City location shall consi st of one or more City buildings or faci liti es as determined by the City of Fairhope . The City Treasurer shall oversee and manage the funds, funds will be recei ved quarterly , and reporting will be included the annual budget. Payments and expenditures from the fund shall be for any purpose, not otherwise provided for by law , that in the judgement of the Treasurer is worthy and for the best interest of the City. The City Treasurer is the custodian of all funds of the City of Fairhope. It is hereby established that all placement, use, and investment of City funds will be at the sole discretion of the City Treasurer in accordance with all laws and go vernmental standards pertaining to public funds. The City Treasurer will keep the Chairman of the Finance Committee apprised of all banking activities and report to the City Council as required. SECTIO II. SEVERABILITY The sections , paragraphs, sentences, clauses and phrases of this ordinance are severable, and if any phrase, clause, sentence, paragraph or section of this ordinance shall be declared unconstitutional by a court of competent jurisdiction, then such ruling shall not affect any other paragraphs and sections, since the same would have been enacted by the municipality council without the incorporation of any such unconstitutional phrase, clause , sentence, paragraph or section . SECTION III. EFFECTIVE DATE This ordinance shall take effect immediately upon its due adoption and publication as required by law. ADOPTED THIS 13TH DAY OF FEBRUARY, 2023 ATTEST: