(A) The Common Council does hereby establish a Firefighting Fund.
(B) All existing funds in the Firefighting Training and Firefighting Equipment Funds will be rolled into the Firefighting Fund.
(C) After all costs associated with the performance of the Firefighting Fund have been satisfied, 85% of the remaining funds collected will be deposited in the city's General Fund and the remaining 15% of the collected funds shall remain in the Firefighting Fund.
(D) The Chief of the Fire Department and/or his or her designee(s) shall be named and have the authority for the collection, allocation and expenditure of all costs associated with the performance of the Firefighting Fund.
(E) The Chief of the Fire Department and his or her designee(s) shall be named and have the authority for the expenditure of funds from the Firefighting Fund which remain after 85% of the deposits have been returned to the General Fund.
