(A) There is hereby created a Cumulative Capital Improvement Fund for the purpose of receiving and depositing therein the city’s distributive share of cigarette tax revenue as distributed by the state in accordance with I.C. 6-7-1-1 et seq.
(B) Such expenditures from said Cumulative Capital Improvement Fund shall be for such purposes as to conform with the terms provided in I.C. 6-7-1-31.1.
(1989 Code, § 35.02) (Ord. 5-1965, passed 5-5-1965)