(A) Creation of Fund 258 - Local Road and Bridge Matching Grant Fund. There is hereby established a Local Road and Bridge Grant Matching Fund to receive grant monies from the 2016 Community Crossings Matching Grant and funding from the Rainy Day Fund, MVH Fund, Local R & S Fund, LOIT Special Distribution 257 Fund and any other funding source not specifically prohibited by law.
(B) Purposes of the Fund. Expenditures from this Fund will be used for road and street projects approved in the grant and will be used as provided for in the grant approval.
(C) Disposition of unused funds. After completion of the approved project(s), any unused funds will be disposed of based upon the pro-rata share of the local match and the state match. The portion of unused funds which represents the share of the local match will revert to the fund from which the original deposit was made. The portion of unused funds which represents the share of the state match will be paid to the State Treasurer.
(Ord. 2017-2, passed 2-27-17)