(A) The LOIT Public Safety Fund for the city is hereby established, into which all funds received by the city as a result of the County Local Option Income Tax (LOIT) for public safety shall be transferred.
(B) The LOIT Public Safety Fund shall be divided into equal accounts for the City Fire Department and for the City Police Department in the books of the Clerk-Treasurer of the city.
(C) Said LOIT Public Safety Fund is subject to the same appropriation process as all other funds receiving tax money. Prior to making an appropriation from the LOIT Public Safety Fund, the Common Council shall make a finding that the proposed use of the LOIT Public Safety Fund is consistent with the intent of the Fund for the purposes of public safety as defined in I.C. 6-3.6-6-8, as amended.
(D) In any fiscal year, the city may transfer in accordance with any statutory requirements for said LOIT Fund.
(Ord. 2016-05, passed 6-6-2016)