(A)
A Riverboat Wagering Tax Revenue Fund is established under the auspices of the Clerk-Treasurer of the city, said account to be carried under Account Number 2235.
(B) All monies received from Riverboat Wagering Tax Revenue Sharing Distribution shall be deposited into said account.
(C) Pursuant to IC 4-33-13-5(f), the monies collected and deposited in the Riverboat Wagering Tax Revenue Fund may only be used for the following purposes:
(1) To reduce the property levy of the city;
(2) To fund additional property tax replacement credits in property tax increment allocation areas;
(3) To fund sewer and water projects, including storm water management projects;
(4) For police and fire pensions;
(5) To carry out any governmental purpose for which the Common Council appropriates the Riverboat Wagering Tax Revenue Sharing.
(Ord. 4432, passed 12-1-03; Am. Ord. 6831, passed 2-22-22)