A. All revenues derived from the municipal use tax created herein shall be deposited in the Town’s capital improvement fund and used solely for the purpose for which the fund may be used.

B. There is hereby established a special fund of the Town of Parachute to be known as the “Parachute capital improvement fund.” The revenues specified in subsection (A) of this section shall be credited to said fund and used solely for the purpose of providing capital improvements or paying debt service on bonds or other obligations of the Town issued to provide capital improvements pursuant to § 29-2-111, C.R.S., as amended. Monies credited to such fund shall not be available to be pledged or expended, by interfund transfer or otherwise, for any general purposes of the Town. (Ord. 190, 1982; Amended Ord. 530 §1, 2005)