(A) Establishment of the County Judgment Funding Loan (Non-Reverting) Fund. The County Judgment Funding Loan Fund (the “fund”) is hereby established as a non-reverting fund to be administered and maintained by the County Auditor.
(B) Deposits into the fund. The net proceeds of a $925,000 loan from The New Washington State Bank, and any grant funds obtained by the BOAC for the purpose of funding the obligations described in division (C) below, shall be deposited into the fund. All monies remaining in this fund at the end of each budget year shall not revert to the General Fund or any other fund, but rather continue to be held in this fund from year to year.
(C) Purposes of permitted expenditures from the fund. Money in the fund shall be used only to pay the unsatisfied judgments, inclusive of interest and costs, entered against the county in the following litigation cases:
(1) County Board of Aviation Commissioners v. Margaret A. Dreyer, Clark Circuit Court No. 2, Case No. 10C02-0902-PL-000023; and
(2) David Dreyer and Margo Dreyer, as Co-Personal Representatives of the Estate of Margaret A. Dreyer, County Circuit Court No. 2, Case No. 10C02-1207-PL-000070. Such expenditures shall be made following review and approval of claims by this Board without the necessity of appropriation by the County Council. No county warrants are authorized to be issued for expenditures from the fund for payment of any monies except upon approval of a claim by this Board and in accordance with the terms of this section.
(D) Effect of the fund on Budget. The amount of deposits in the fund, the balance of the fund, and expenditures from the fund shall not be considered in establishing the budget of any county department or this Board, or in setting property tax levies that will be used in any part to fund such budgets.
(E) Term of fund. The term of existence of the fund shall be perpetual until the fund is fully expended or terminated by subsequent ordinance adopted by this Board.
(F) Auditor’s duty to manage the fund. The County Auditor is hereby directed to maintain and manage accurate accounting information regarding the receipts, expenditures and balances of the fund.
(Ord. 39-2012, passed 12-20-2012)