(A) A cumulative major moves construction fund is hereby established.
(B) Such funds shall be funded by revenues distributed to the town in accordance with I.C. 8-14-14-6(a)(3).
(C) The Town Clerk-Treasurer shall open an account named the major moves construction fund for Beverly Shores.
(D) Funds received by the town as part of the major moves construction fund shall be used and dedicated by the Town Council pursuant to I.C. 8-14-16-5, including any amendments therein, as follows:
(1) Construction of highways, roads and bridges.
(2) As long as Porter County is a member of the Northwest Indiana Regional Development Authority, fund money may be expended for any purpose for which the Regional Development Authority may expend money under I.C. 36-7.5.
(3) Provide funding for economic development projects as defined in I.C. 6-3.5-7-13.1(c)(1) or I.C. 6-3.5-7-13.1(c)(2)(A) through 6-3.5-7-13.1(c)(2)(K).
(4) Provide matching funds for federal grants for any of these permissible uses of major moves construction fund money.
(5) Provide funding for interlocal agreements under I.C. 36-1-7 for any of these permissible uses of major move construction fund money.
(Ord. 06-09, passed 10-16-2006)