§ 33.05  LOIT SPECIAL DISTRIBUTIONS FUND.
   (A)   Fund 257. The following Fund 257 is now established to receive the LOIT special distribution.
   (B)   Allocation of LOIT special distribution. The entire LOIT special distribution shall be initially receipted into the town’s Rainy Day Fund. Upon the creation and approval of the Fund 257, the Director of the Department of Finance and Records shall transfer 100% of the LOIT special distribution to Fund 257. Following the transfer of 100% of the LOIT special distribution to Fund 257, the Director of the Department of Finance and Records shall transfer 25% of the balance in Fund 257 to the town’s General Fund.
(Ord. G-16-07, passed 7-18-2016)