(A) Established. The Economic Development Incentives Fund is created that the City Clerk-Treasurer will maintain for the city.
(B) Funding. This fund will be funded by all revenues the city receives regarding the sale or disposition of Crawfordsville Commerce Park or other city real-property interests.
(C) Use. The fund will be used exclusively at the mayor's discretion for economic incentives to attract or retain businesses and development in the Commerce Park and in the city. The fund may also be used to pay principal and interest balances of the Commerce Park Bond.
(D) Non-reverting fund. This is a non-reverting fund.
(Ord. 5-2008, passed 4-14-08; Am. Ord. 22-2018, passed 10-8-18)