(A) Established. The LOIT Special Distribution Fund (“Distribution Fund”) is created that the City Clerk-Treasurer will maintain for the city.
(B) Funding. This Distribution Fund will be funded by at least 75% of the special distribution the city receives under SEA 67.
(C) Use. The Distribution Fund will be used exclusively for infrastructure under I.C. § 6-3.6-9-17(h)(l)(A).
(D) Reverting fund. This is a reverting fund.
(Ord. 8-2016, passed 5-9-16)