Ordinances 1st series - 151 - 253

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, � • Ordinance No. 220 Page 4 � � (c) That the private open space is restricted for park and recreation purposes by recorded covenants which run with the land in favor of the future owners of property within the tract and which cannot be eliminated without � the consent of the City Council; and (d) That the proposed private open space is reasonably adaptable for use for park and recreation purposes, taking . into consideration such factors as size, shape, topography, geology, drainage, access, and location of the private open : space land; and (e) That facilities proposed for the open space are in . substantial accordance with the provisions of the recreational element of the Comprehensive Land Use Plan, and are approved by the City Council; and (f) That where such credit is granted, the amount of credit sha11 not exceed twenty-five percent (259'0) of the amount calculated below. Subdivision 9 . Funding, Accounting, Budgeting, Expenditure of Cash in Lieu of Lands The City Council shall establish a separate fund into which all cash contributions received from sub- dividers in lieu of conveyance or dedication of land for park, playground, and other public pu�poses shall be deposited. The City Council shall establish separate budgeting and accounting procedures for such fund and shall make from time to time appropriations from such fund for acquisition of land for park, playground purposes and other public purposes, for developing existing pa rk and playground sites or for debt retirement in connection with land previously acquired for parks, playgrounds and other pub.lic purposes. Subdivision 10. Administrative Procedures The City-Covncil shall establish such administrative procedures as they may deem necessary and required to implement the provisions of this section this Code.