(A) Pursuant I.C. 6-1.1-18.5-17, there is hereby established a Sanitary Levy Excess Fund 0721 for the purpose of accounting for the receipts and disbursements of the property taxes received which exceeds 100% of the taxing unit’s ad valorem property tax levy.
(B) Monies deposited in said Fund shall be used as provided by the Department of Local Government Finance approval of the taxing unit’s budget.
(C) Disbursements from the Fund shall be made upon Certification by the City Controller and the approval of claims by the EC Sanitary District Board of Commissioners.
(D) Said fund shall be perpetual in nature; however, should the Fund terminate for any lawful reason, any balance in said Fund shall be disbursed as determined by the Department of Local Government Finance.
(Ord. 11-0014, passed 7-25-2011)