There is established a "park acquisition, development, and renovation fund," hereafter referred to as fund, to be administered by the recreation commission and Planning Commission; moneys therein shall be appropriated, transferred, expended or used for, and only for, those recreation and open space purposes determined by the Recreation Commission and Planning Commission, to be consistent with the recreation and open space element of the City master plan and which may be from time to time modified by a majority vote of each of the Planning Commission and Recreation Commission meeting jointly, and with the concurrence of the City Council. The recreation and open space element of the master plan, as from time to time modified, shall continue to identify neighborhoods which are in special need of recreation and open space facilities, and shall designate such neighborhoods as "high deficiency" neighborhoods; moneys in the fund may be used for the acquisition and/or development of lands within or contiguous to such neighborhoods for recreational purposes; and/or for the renovation of existing recreational facilities. (Ord. 4734-NS § 2, 1974)