Enterprise Fund.
There is established the Eastern Market Enterprise Fund (“Fund”), an interest-bearing account, pursuant to § 47-373(2)(C). The Fund shall be operated by the CPMO in accordance with general accepted accounting principles. The CPMO shall deposit into the Fund all revenues, proceeds, and moneys from whatever source derived which are collected or received by the CPMO on behalf of Eastern Market. These revenues, proceeds, and moneys shall be credited to the Fund and shall not, at anytime, be transferred to, lapse into, or be commingled with the General Fund of the District of Columbia, the Cash Management Pool, or any other funds or accounts of the District of Columbia, except for funds transferred to the District of Columbia Treasurer to pay all expenses related to the management and maintenance of the Eastern Market Square. All Eastern Market accounts shall be independently audited biennially by the District of Columbia Auditor, and the audit shall be submitted to the Mayor and the Council.
Annotations
Apr. 16, 1999, D.C. Law 12-228, § 4, 46 DCR 1066 Apr. 20, 1999, D.C. Law 12-264, § 22(b), 46 DCR 1066 Dec. 7, 2004, D.C. Law 15-205, § 1192(d), 51 DCR 8441 For temporary (90 day) amendment of section, see § 1192(d) of Fiscal Year 2005 Budget Support Congressional Review Emergency Act of 2004 (D.C. Act 15-594, October 26, 2004, 51 DCR 11725). For temporary (90 day) amendment of section, see § 1192(d) of Fiscal Year 2005 Budget Support Emergency Act of 2004 (D.C. Act 15-486, August 2, 2004, 51 DCR 8236). D.C. Law 15-205, in subsec. (c), substituted “biennially” for “annually”. 1981 Ed., § 10-303. This section is referenced in § 37-111.
Sourced from the DC Council Open Law Library (public domain).
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