(A) Established. There is hereby created a nonreverting Property Tax Credit Fund for the receipt of the property tax credit monies as determined by the County Auditor’s office.
(Prior Code, § 43.535)
(B) Uses. The permissible uses of those funds, as established by Ord. 0-06-0042 are:
(1) Issue refunds to eligible property owners who had paid their tax bill prior to the adoption of Ord. 06-0042;
(2) Apply the tax credit to current property tax bill for eligible property tax owners electing to do so; and
(3) Pursuant to I.C. 36-1-8-5, upon fulfillment of the purposes of the Fund, any unused and unencumbered remaining balance shall be transferred to the Fund upon which funding was originally drawn.
(Prior Code, § 43.536)
(Ord. 0-07-0003, passed 2-26-2007)