(A) A fund is hereby established, within the various funds of the city, to be known as the Riverboat Revenue Sharing Fund, which fund shall be maintained by the Clerk-Treasurer.
(B) Moneys shall be deposited to the fund as follows: In each calendar year, during the existence of the Riverboat Sharing Fund, all moneys received from the State Treasurer of revenue sharing wagering taxes shall be deposited in the fund.
(C) Moneys in the fund shall be maintained by the Clerk-Treasurer and paid out only as may be appropriated by the fiscal body of the city.
(D) Moneys from this fund may be appropriated by the city fiscal body for the following purposes:
(1) To reduce the property tax levy of the city, for a particular year (a property tax reduction under this subdivision does not reduce the maximum levy of the city under IC 6-1.1-18.5);
(2) For deposit in a special fund or allocation fund created under IC 8-22-3.5, IC 36-7-14, IC 36-7-14.5, IC 36-7-15.1 and IC 36-7-30 to provide funding for additional credits for property tax replacement in property tax increment allocation areas or debt repayment;
(3) To fund sewer and water projects, including storm management projects;
(4) For police and fire pensions;
(5) To carry out any government purpose for which the money is appropriated by the fiscal body of the city. Money used under this subdivision does not reduce the property tax levy of the city, town or county for a particular year or reduce the maximum levy of the city under IC 6-1.1-18.5.
(Ord. 14-2003, passed 8-11-03)