§ 34.023 RAINY DAY FUND.
   (A)   There is established, pursuant to I.C. 36-1-8-5, an account designated as the "Rainy Day Fund" whereby the unused and unencumbered budget balance, up to 10% of the Town's original budget for that fiscal year, may be transferred to the Rainy Day Fund. This portion of the Rainy Day Fund may only be expended, after appropriation, for constructing buildings or purchase of property for the expansion of Town facilities.
   (B)   Revenue from additional sources may also be deposited into the Rainy Day Fund, and these funds may be used for any purpose approved and appropriated by the Town Council, including transfer of funds to any other fund of the Taxing Unit.
(Ord. 2002-26, passed 9-12-02; Am. Ord. 2004-18, passed 7-8-04)