(A) It is hereby established the Town of Daleville Rainy Day Fund.
(B) All funds received from special income tax distributions from COIT shall be deposited in the Rainy Day Fund.
(C) The town may contribute up to 10% of its annual budget if monies are available to this Fund according to I.C. 6-1.1-17.
(D) The funds accumulated in the Rainy Day Fund will be used for special projects, capital improvements, purchase of equipment and other purposed consistent with the intent of this Fund.
(Ord. 04-01, passed 4-19-2004)