Management

The Director of Parks and Recreation (the Director) shall be the custodian of the Fund and may deposit monies collected therein in one

(1)or more local banks. The Director is authorized to draw monies from the Fund, at the request of the Commission, for the development, improvement or maintenance of the Territorial park System under the jurisdiction of the Department, for recreational facilities, or for on-island sports programs and to underwrite the cost of implementing the recreational on-island sports programs established by the Department, not to exceed Twenty-Five Thousand Dollars ($25,000) for any one project or program. No monies from the Fund shall be used for off-island travel. The existing Recreation Activity Revolving Fund rules and regulations that are not in conflict with § 77114, § 77114.1 and § 77114.2 of this Chapter shall remain in effect. The Commission shall submit, no later than January 31st of each year, an annual COL1/11/2022 CH. 77 PARKS & RECREATION audited financial statement of the Fund to the Governor and to the Legislature.