(A) The Motor Vehicle Highway Fund—Allocated (271), herein “Allocated,” is created.
(B) The Allocated Fund will receive 50% of all state motor vehicle highway distributions received after June 30, 2017.
(C) The Allocated Fund will be used solely for the construction, reconstruction and maintenance of highways, as defined in I.C. 8-14-1-1.
(D) Allocated Fund balances will remain in the Fund and will not revert to the Unallocated Fund.
(E) Allocated Fund balances will not be eligible for transfer to the Rainy Day Fund.
(Ord. 2017-06 B, passed 7-3-2017)