(A) The “Motor Vehicle Highway Fund” (201) will:
(1) Receive fifty percent (50%) of all State of Indiana Motor Vehicle Highway distributions received after January 1, 2019;
(2) Retain any cash balance, including investment and interest, as of January 1, 2019;
(3) Receive all miscellaneous revenues related to either Motor Vehicle Highway Fund, or the Motor Vehicle Highway Restricted Fund;
(4) Be used for any legal expenditure of Motor Vehicle Highway dollars.
(B) The sub-fund “Motor Vehicle Highway Fund - Restricted (203) is created.
(1) The Restricted fund will receive fifty percent (50%) of all State of Indiana Motor Vehicle Highway distributions 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 8-14-1-1(7), respectively.
(Ord. 2019-02, passed 1-24-19