9768-07 Amend Chapter 2 - Article 14 - Add new Section - 2-170.10

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SUBSTITUTE BILL N0.35-07 ORDINANCE NO. ~ 1 ~ ~' "~1 AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, AMENDING CHAPTER 2, ARTICLE 14 OF THE SOUTH BEND MUNICIPAL CODE TO ADD A NEW SECTION 2-170.10 ESTABLISHING ANON- REVERTING "MORRIS PERFORMING ARTS CENTER AND PALAIS ROYALE MARKETING FUND." STATEMENT OF PURPOSE AND INTENT The Common Council has determined that it is in the City's best interest to create a fund for marketing of the Morris Performing Arts Center and Palais Royale, a cultural center for the arts, glamorous ballroom and historic landmark in downtown South Bend. To continue to promote the Morris Performing Arts Center and Palais Royale, a marketing fund needs to be established. The marketing fund would accrue from the solicitation of funding for commercial promotion sponsorships and Morris marquee sponsorships. The funds generated from such activities would be deposited in a new, non-reverting fund for this purpose. NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA as follows: Section I. Article 2, Chapter 14 of the South Bend Municipal Code shall be amended to add a new Sec. 2-170.10 as follows: Sec. 2-170.10. Morris Performing Arts Center and Palais Royale Marketing Fund (a~ The Morris Performing Arts Center and Palais Royale Marketing Fund is established as a separate, non-reverting fund to receive monies from the solicitation of funds for commercial promotion sponsorships such as commercial ads on ticket envelopes and Morns marquee sponsorships; and to accent donations to The Morns Performing Arts Center and Palais Royale. All sums so collected and deposited in this fund shall be used for the sole purpose of assisting with continued promotions of and within both the Morns Performing Arts Center and Palais Royale. The funds in this account shall not be the sole source of monies for marketing-/promotion of The Morris Performin~~Arts Center and Palais Royale, nor shall the existence of this fund preclude the Ci from providin other funds for this purpose. Monies in this fund at the end of the fiscal year shall not revert to the general fund.