(A) There is created a fund to be designated, “Cedar Lake Economic Development Commission nonreverting fund.”
(B) The Clerk-Treasurer shall deposit application fees and other miscellaneous income of the Cedar Lake Economic Development Commission into this fund and these funds shall not revert to the general fund of the town at the close of its fiscal year.
(C) Expenditures, as permitted by law, shall be made by appropriation of the Commission and upon approved claims to be submitted to the Town Council for review, approval, and authorization for payment by warrant.
(Ord. 425, passed 3-26-86)