There shall be a permanent park fund which shall consist of gifts, bequests and devises specified for this purpose, rents, issues and profits derived from any property which may have been purchased or held in trust by or for the City of Columbia for recreational purposes; and the proceeds of the sale of any such property, real, personal or mixed, so purchased or held in trust. Monies in this permanent park fund shall be appropriated, expended or encumbered only for parks and other recreational property or facilities.

(Code 1964, § 2.1030)

     Charter reference(s)--Similar provisions, § 113.