(A) The "Motor Vehicle Highway Fund” Unallocated (201) is hereby renamed “Motor Vehicle Highway Fund - (201).”
(1) The fund will receive 50% of all State of Indiana Motor Vehicle Highway distributions received after Janaury 1, 2019.
(2) The fund will retain any cash balance including investment and interest as of January 1, 2019.
(3) The fund will receive all miscellaneous revenues related to either Motor Vehicle Highway Fund or Motor Vehicle Highway Restricted Fund.
(4) The fund will be used for any legal expenditure of motor vehicle highway dollars.
(B) The sub-fund “Motor Vehicle Highway Fund - Restricted (203) ("Restricted") is created.
(1) The Restricted fund will receive 50% of all State of Indiana Motor Vehicle Highway distributions received after January 1, 2019.
(2) The Restricted fund will be used solely for construction, reconstruction, and preservation of highways as defined in I.C. 8-14-1-1(4), 8-14-1-1(5) and 18-14-1-1(7), respectively.
(Ord. 1582-6-17, passed 6-21-2017; Am. Ord. 1600-1-19, passed 1-16-2019)