(a) All monies collected pursuant to I.C., 36-7-12 et seq. shall be itemized and deposited with the Controller and the Controller shall deposit said monies into the Economic Development Fund #903. The Controller shall prepare an annual report to the Mayor, Common Council, State Board of Accounts and Commission regarding deposits and expenditures to and from the Economic Development Fund.
(b) Monies in the Economic Development Fund must be appropriated and expended in accordance with I.C., 36-7-12 et seq., I.C., 36-4-7 et seq. and the Carmel City Code.
(Ord. D-1253-96, 11-18-96; Ord. D-2505-19, 12-16-19)