(A) Sales tax will be remitted to the Indiana Department of Revenue in accordance with timing requirements established by the Indiana Department of Revenue.
(B) Deposits will be refunded to the depositor upon satisfaction of the terms of the deposit agreement. Violations of the deposit agreement will allow the city to refund all, or a portion of, the deposit to the city to be deposited into the Agency Fund.
(C) Other funds held in an agency capacity will be collected and distributed in accordance with timing requirements established by the receiving authority.
(D) The Sales Tax and Damage Deposit Refund shall remain in effect until the city no longer receives sales tax and damage deposits refunds. Any remaining undistributed balance will revert to the General Fund if the Sales Tax and Damage Deposit Refund is declared dormant.
(Ord. 041816A, passed 4-18-16)