(A) There is hereby established a special fund to be designated as Fund 257, LOIT Special Distribution Fund.
(B) At least 75% of the special distribution received by the town in accordance with SEA 67 shall be receipted into this Fund.
(C) At least 75% of the distribution received shall be used in accordance with the purposes as stated in I.C. 6-3.6-9-17(h)(1)(A).
(D) No more than 25% of the special distribution received in accordance with SEA 67 shall be receipted into the Rainy Day Fund.
(E) The Fund balance shall be perpetual until terminated by the terms of this section or at such time as all appropriations shave been made from the Fund.
(Ord. 2016-12, passed 5-24-16)