(A) There is hereby created a fund for the special projects of a capital nature for the town. Currently, Build Indiana Monies are being distributed to the town for the purpose of installing sidewalks on the east side of Broadway from the fire station to Lake Front Drive.
(B) This fund may be used in conjunction with any other funds received by the town from any and all sources. This fund is to be known by the following title and designation: special project fund.
(C) Revenue from the State of Indiana, from the Build Indiana Funds, from grants and donations may go into this fund. Transfers from existing town funds, including the general fund, the cumulative capital development (CCD) fund and the cumulative capital improvement (CCI) fund are permitted to the extent authorized by law.
(D) This fund shall be a non-reverting fund of the town. It shall terminate upon the enactment of a subsequent ordinance which determines the existence of the fund is no longer needed because the sidewalks have been installed and there is no expectation of receipt of special projects funds or because there are no longer monies in the fund.
(E) Funds received by the town for sidewalks or from the Build Indiana Funds of the state shall be deposited into the fund.
(F) The Town Council hereby authorizes the disbursement of funds to pay the expenses incurred in relation to the installation of sidewalks or for all similar expenses related to the purposes specified herein or for other similar special projects or by the donors of specific gifts related to this fund.
(G) An accurate accounting shall be maintained of all disbursements and credits and all transactions involving this fund shall be maintained by the Clerk-Treasurer as an official record of the town. The money shall not be commingled with other monies of the town.
(Ord. 2000-03, passed 4-17-2000)