Omaha Municipal Code § 10-285 Appropriation of lottery revenue.
Sec. 10-285. - Appropriation of lottery revenue.
(a) To the extent permitted by law, revenue received by the city from lotteries operated pursuant to the Nebraska County and City Lottery Act shall be accounted for and appropriated in accordance with this section.
(b) All net revenue, after deduction for payments to lottery operators, payments to Douglas County, city administration expenses, and taxes and other payments to the state, shall be placed into two separate accounts:
(1) Seventy-five percent of all such revenue shall be credited to a primary lottery account. All interest earned on funds in this account shall remain in the account until appropriation.
(2) Twenty-five percent of all such revenue shall be credited to a separate secondary lottery account until this secondary lottery account has a balance of at least $2,370,000.00. Thereafter, all such revenue shall be credited to the primary lottery account. After the secondary lottery account reaches $3,000,000.00 with its interest income, 25 percent of the interest earned on funds in this secondary account shall remain in the account while 75 percent of the interest may be appropriated as permitted by law and this section.
(c) Funds in the secondary lottery account shall not be appropriated for any purpose unless the accumulated funds in the account, including earned interest, equal or exceed $3,000,000.00. Except as provided in this section, no appropriation may be made which will cause the accumulated funds to fall below that amount. Interest earned on the account may be appropriated solely for one or more of the following: nonprofit organizations not receiving revenues from the general fund; public parks; or public libraries.
(d) To meet a public emergency threatening serious loss of life, health or property, the council may appropriate funds from the secondary lottery account which will cause the amount in the account to fall below $3,000,000.00; provided, however, that any such emergency appropriation shall require at least five affirmative votes.
(Ord. No. 33494, § 1, 2-28-95; Ord. No. 34688, § 1, 10-6-98)