(1) A fund to be known as "Council Goals Fund" is established, and all money received as proceeds from the marijuana tax shall be paid into the fund with all costs and expenses, as budgeted, paid out of the fund.

(2) The purpose of this fund is to receive gross revenues received from the marijuana tax, to provide funding restricted to expenditures required to implement goals adopted by Council. Monies in this fund shall not be used for ongoing, operational expenditures. Council shall identify and prioritize goals, with corresponding funding amounts, as part of the biennial budget process. Except for those purposes established in this section, in no case shall revenues be transferred from the Council Goals Fund to the City’s General Fund, or any other fund, for any other purpose.

(3) Additional projects and programs presented to be paid out of the Council Goals Fund must be sponsored by a Councilmember. The entire amount available for allocation does not need to be spent, and monies remaining after the June and December allocations by Council shall be carried over to the next allocation.