(A) There is hereby established in the town a fund for the deposit of any grant(s) awarded to the town from the Indiana Department of Transportation pursuant to any Local Roads and Bridges Matching Grant Agreement (the “Grant Agreements”) entered into between the town and the Indiana Department of Transportation. Such fund shall be referred to as the “Community Crossings Grant Fund.”
(B) Monies deposited in the Community Crossings Grant Fund shall be expended with appropriations only for the purposes for which the grant was awarded under the Grant Agreements.
(C) Any unexpended monies in the Community Crossings Grant Fund at the close of the project (as described in the applicable Grant Agreement) that were received from the Indiana Department of Transportation shall be returned to the Indiana Department of Transportation in accordance with the Grant Agreement.
(Ord. 2017-23, passed - -2017)