(A) Established. Fund 451 2015 Bond Project Bond and Interest (“Bond and Interest Fund”) is created that the City Clerk-Treasurer will maintain.
(B) Source of funds. The revenue for deposit into the Bond and Interest Fund will be TIF revenue monies the city or Crawfordsville Redevelopment Commission receives from the Crawfordsville Square Economic Development Area and Crawfordsville Commerce Park Economic Development Area.
(C) Use of funds. Monies in the Bond and Interest Fund may be used by the City Clerk-Treasurer to pay for all costs related to servicing the Crawfordsville Redevelopment Commissions repayment obligations for the Crawfordsville Indiana TIF Revenue Bonds of 2015.
(D) Non-Reverting fund. This is a non-reverting fund.
(Ord. 12-2015, passed 7-8-15)