(A) All funds of the Hoosier Heritage Port Authority shall be deposited in a special account known as the Hoosier Heritage Port Authority Fund which shall be maintained under the supervision of the Treasurer and subject to annual audit as may be required by law. Monies received shall be deposited in accordance with sound fiscal practices; and shall be paid out only upon claims approved by the Board.
(B) No claims shall be approved for any expenditure not consistent with the purposes set forth herein. No contract or undertaking shall be approved with any third party that causes the Hoosier Heritage Port Authority to become liable for the expenditure of funds which is not consistent with the purposes set forth herein.
(Ord. 090794B, passed 12-7-94; Am. Ord. 041598 passed 4-15-98; Am. Ord. 070506A, passed 7-5-06; Am. Ord. 091514A, passed 11-17-14)