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(a) The commissioners appointed pursuant to this subchapter shall have the authority to utilize all revenues derived from the operation of the recreational park in the operation of the recreational park.
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(b)
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(1) All funds derived from the use of the recreational park shall be segregated into a park fund, which fund shall be used exclusively in the operation of the recreational park by the commissioners.
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(2) Moneys in the fund shall not be mingled with other funds of the city and shall be handled exclusively by the commissioners.
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(c)
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(1) The commissioners shall each furnish to the city a five thousand dollar ($5,000) surety bond that will serve to insure the city against any misappropriation or mishandling of funds.
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(2) The surety on the bonds shall be a reputable surety corporation.
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(3) The premium on the bonds shall be paid from moneys in the park fund.
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(d)
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(1) The commissioners shall receive no salary for their services but shall be reimbursed from the park fund for actual expenses incurred in the performance of their duties.
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(2) The park fund may also be expended by the commissioners, as they deem best, for the purpose of obtaining attractions to meet on the park.
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