(A) The East Main Corridor Allocation Fund (Fund #490) is hereby established. Excess property tax proceeds from the East Main Corridor Allocation Area, as described in I.C. 36-7-14-39(b)(3), shall be paid into the East Main Corridor Allocation Fund (“Fund”). Money earned from the investment of money in the Fund becomes a part of the Fund.
(B) The amounts paid into the Fund may be used to further the goals of the Economic Development Plan for the Danville Economic Development Area No. 1, and in accordance with permitted uses under state law.
(C) The Fund shall be non-reverting.
(Ord. 11-2021, passed 5-5-21)