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A. A library cumulative reserve fund is created pursuant to RCW 35.21.070, to be used for specific capital items and projects which relate to the library program and for literary and cultural services for the intellectual improvement of the individual. Determination of fund dispersal will be made by the library board of trustees. All funds collected for such fund shall be used for the purposes above set forth and for no other purposes except as provided by law.

B. The source of moneys for the library cumulative reserve fund shall be endowments, bequests, gifts, memorials, book sales and other similar appropriations from private and public benefactors; provided, however, no allocation of city revenue shall become part of the library cumulative reserve fund unless the city council specifically authorizes such moneys to become part of such fund by resolution or ordinance. (Ord. 489-77 §§ 1, 2, 1977.)