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Ordinance 1062 ORDINANCE N0. 1062 AN ORDINANCE OF Tt1E CITY OF CUPERTINO A."tENDINC PARAGRAPfi C OF SECTION 3.28.050 OF T1iE CUPERTINO MUNICIPAL CODE TO EFFECT A C1UINCE IN DEPARTMENTAL ORGANIZATION THE CITY CWNCIL OF THE CITY OF CUPERTINO DOES ORDAIN A5 FOLLOWS: ~~ Paragraph C of Section 3.28.050 is hereby amended to read ae follows: "Section 3.28.050 Formula for fees in lieu of land dedication. C. Uae of Money. The money collected hereunder shall be paid to the Treasurer of the City or his authorized agent. Said money shall be placed in a special revenue fund which is hereby created and which shall be known as the Park Dedication In-Lieu Tax Fund. Moneys within this fund shall be used and expended solely for the acquisition, improve- ment,-expansion or implementation of parka and recreational facilities of the City. Said moneys, as they relate to fees paid for any given subdivision, shall be used first for the purpose of providing park or recreational facilities reasonably related to serving said subdivision by the way of the purchase of necessary land, or, if the City deems that there is sufficient land available for said subdivision, then secondly said moneys shall be used for improving such land for park and recreational purposes." INTRODUCED at a regular meeting of the City Council of the City of Cupertino 15th day of September 1980, and ENACTED at a regular meeting of the City Council of Cupertino Chia 6th day of October. , 1980, by the following vote: Vote Members of the City Council AYES: Gatto, Plungy, Sparks, Rogers NOES: None ABSENT: None ABSTAIN: None ATTEST: APPROVED: C~ . / _ City erk Mayor, Cit upertino