The funds contained in the Riverboat Wagering Tax Revenue Sharing Fund shall be used for the purposes contained in IC 4-33-13-5(f) as follows:
(A) To reduce the property tax levy of the town or county for a particular year, but a property tax reduction under this subsection does not reduce the maximum levy of the town, or county under IC 6-1.1-18.5;
(B) For deposit in a special fund or allocation fund or allocation fund created under IC 8-22-3.5, IC 36-7-14, IC 36-7-14.5, IC 36-7-15.1, and IC 36-7-30 to provide funding for additional credits for property tax replacement in property tax increment allocation areas or debt repayment;
(C) To fund sewer and water projects, including storm water management projects;
(D) For police and fire pensions; and
(E) To carry out any governmental purpose for which the money is appropriated by the fiscal body of the town or county. Money used under this subsection does not reduce the property tax levy of the town or county for a particular year or reduce the maximum levy of the town or county under IC 6-1.1-18.5.
(Ord. 2003-5, passed 8-25-03)