(A) The Rainy Day Fund is established.
(B) Supplemental distributions of county economic development income tax, pursuant to state law, and supplemental distributions of county adjusted gross income tax, pursuant to I.C. 6-3.5-1.1-21.1 shall be deposited into the Rainy Day Fund.
(C) The Rainy Day Fund is subject to the same appropriation process as other funds that receive tax money. Before making an appropriation from the Rainy Day Fund, the County Council shall make a finding that the proposed use of the Rainy Day Fund is consistent with the intent of the fund as required by I.C. 36-1-8-5.1(b).
(D) Interest earned on monies in the Rainy Day Fund shall be retained by the Rainy Day Fund.
(Council Ord. 2004-3, passed 7-20-2004)