§ 2-17-150. Campaign funds.

Campaign funds shall be used and distributed as follows:

(1)

All contributions received shall be under the custody of the campaign treasurer or deputy campaign treasurer and shall be segregated from, and not be commingled with, the personal funds of an individual, group or political committee. Contributions shall be used exclusively to pay expenses incurred in furtherance of the candidate's campaign, and shall not be used for any other purpose, including:

a.

The candidate's personal living expenses or compensation to the candidate;

b.

A contribution to the campaign of another candidate or to a political party or political committee or to a campaign supporting or opposing a ballot proposition;

c.

An expenditure supporting the election of another candidate or the passage or defeat of a ballot proposition; or

d.

Any gift or transfer for which compensating value is not received, other than a donation or distribution permitted by this subsection at the conclusion of an election.

(2)

Any campaign contributions remaining unspent and any tangible assets with an estimated resale value greater than two hundred dollars ($200.00) that were purchased with such contributions and remain in the possession of the campaign at the conclusion of an election shall be distributed for the following purposes:

a.

Expenditures of the campaign;

b.

Donations to the city's general fund or, in the case of tangible assets, to the city for its use or disposition in accordance with the city's procurement code. Proceeds from such disposition shall be deposited in the city's general fund;

c.

Donations to charities; or

d.

Disbursements to return unused funds to the contributors.

(3)

All unspent campaign contributions shall be distributed within six (6) months following a municipal election, for any of the purposes listed in this section 2-17-150. All candidates and political committees shall file reports listing the date, amount and recipient of each post-election expenditure, donation or disbursement made from campaign funds pursuant to this section 2-17-150. Such report shall be part of the final campaign finance statement that is required by section 2-17-130.

(Ord. No. 1466, § 1, 4-22-14)