(A) The Town of Akron establishes a nonreverting fund for the receipt of community host fees from Fulton County to be known as the Town of Akron Community Host Fee Receipt Fund. The Town of Akron Clerk-Treasurer shall deposit all funds received pursuant to any host fee agreement into the Town of Akron Community Host Fee Receipt Fund, accruing all earnings upon the investment to the Fund in compliance with rules and regulations of the State Board of Tax Commissioners.
(B) The Town of Akron establishes a Town of Akron Community Host Fee Revenue Fund which shall receive the distributions from the Town of Akron Community Host Fee Receipt Fund for the benefit of the town, the fund to be a nonreverting cumulative fund to be used for projects of a capital nature.
(C) The nonreverting cumulative fund shall remain until the County Line Landfill is closed.
(Ord. 99-4-20, passed 4-20-99)