(A) The Town of Atlanta is eligible to apply to the Indiana Department of Transportation (INDOT) for a grant from the Local Road and Bridge Matching Grant Fund.
(B) Per the direction given by the State Board of Accounts ("SBOA") in accordance with the terms of a memorandum dated June 9, 2016, which allows existing motor vehicle highway (MVH) and local roads and streets (LRS) funds to be used as matching hinds for grants from the Local Road and Bridge Matching Grant Fund, those existing funds shall be transferred to specified, restricted rainy day funds and the documentation and methodology used to determine the transfer amounts shall be kept available for audit purposes.
(C) Fund 261: Rainy Day Restricted-LRS for LRS Transfers and Fund 263: Rainy Day Restricted-MVH for MVH Transfers are established.
(Ord. 06-2016-02, passed 6-14-2016)