10.34.120 PROFITS—ORGANIZATIONS OTHER THAN SECTION 23701d ORGANIZATION.

All proceeds derived from a bingo game shall be kept in a special fund or account and shall not be commingled with any other fund or account. Such proceeds shall be used only for charitable purposes, except as follows:

(a) Such proceeds may be used for prizes.

(b) A portion of such proceeds, not to exceed 20% of the proceeds before the deduction for prizes, or $1,000.00 per month, whichever is less, may be used for rental of property, overhead, including the purchase of bingo equipment, administrative expenses, securing equipment, and security personnel.

(c) Such proceeds may be used to pay license fees.

The City Council may designate by resolution a percentage of bingo gross receipts that must be used for charitable purposes.