[Added 3-20-2019 by Ord. No. 19-06]
There shall be created within the Town budget a restricted account to be used for the acquisition of equipment necessary to maintain the Town's parks and recreational facilities. The purpose of the fund shall be to provide a source of dedicated funds to allow the Town to purchase such equipment that is consistent with the goals and purposes of the Town's several conservation and management plans. The funds shall also be available to be used as a source of match money for the Town to acquire grant funding from the state or federal government or from private organizations.
Funds to the account shall be deposited on an annual basis commencing on June 30, 2020, by transferring any amounts unencumbered in general fund in account number 1-101-030-4071 entitled "field maintenance" into the Parks and Recreation Capital Purchase Account.