Educational trust fund established from recycling program for scholarships to children of certain city employees; conditions for implementation and scholarship committee

(a)

The moneys received by the city from the recycling of newspapers and other salvageable materials ("recycling program") shall be separately received, maintained and accounted for in an independent fund account to be held in the same manner as a trust account by the city for an educational fund hereby established upon the conditions as set forth in this section. The funds received, pursuant to the city's recycling program, shall be the subject of a separate appropriations ordinance to be adopted by the city commission and separately awarded and approved by the city manager through his/her designee. Upon the accumulation of $1,000,000.00 in funds received through this recycling program, all interest, as it accrues upon such principal amount, shall be utilized, subject to the sufficient accrual of interest, to pay for up to 15 scholarships, awarded annually, to educational institutions for the employees of the department to attend educational programs or F.A.C.E. Code Enforcement certification, or for commercial drivers license certification; in addition up to 15 scholarships shall be awarded annually to college level educational institutions for the children or legal dependents of the employees of the department, as determined by the designated scholarship committee to have met the established requirements for such scholarships; each scholarship award shall not exceed $3,000.00 annually per person, per award. In the event the interest accrued upon the $1,000,000.00 in this fund is insufficient to pay for the full amount of each scholarship, a lesser amount of scholarship will be awarded by the scholarship committee.

(b)

The scholarship committee will be comprised of three members—one member from the department of human resources; one member from American Federation of State, County, and Municipal Employees, Local 871; and one member from the department of solid waste staff. The scholarship committee will create the criteria for qualification for the awards which shall be approved by the city manager or his/her designee.

(Ord. No. 10654, § 3, 10-12-89; Code 1980, § 22-13.1; Ord. No. 12258, § 2, 7-25-02; Ord. No. 13194, § 2, 9-27-10; Ord. No. 13318, § 2, 3-8-12; Ord. No. 13330, § 2, 7-26-12; Ord. No. 13693, § 2, 7-13-17)