(A) The Clerk-Treasurer is hereby directed and authorized to establish and maintain a nonreverting fund entitled the “257 LOIT Special Distribution Fund (LOIT FUND)” with such fund formerly being known as “GF Trails-DNR Grant”. Seventy-five percent of the monies received from the special distribution shall be utilized for the purposes set forth under I.C. 6-3.6-9-17(h)(1)(A). The balance of funds received from the special distribution shall be deposited into the General Fund.
(B) The monies received for deposit in the “257 LOIT Special Distribution Fund (LOIT FUND)” shall be subject to the same appropriation process as other city funds that receive tax money.
(Ord. 2016-9, passed 6-8-2016)