(A) Purpose.
(1) Each city which receives tax revenue under I.C. 4-33-12-6, I.C. 4-33-13 or an agreement to share a city’s or county’s part of the tax revenue may establish a Riverboat Fund. Money in the Fund may be used for any legal or corporate purpose of the city.
(2) The Riverboat Fund shall be administered by the Clerk-Treasurer, and the expenses of administering the Fund shall be paid from money in the Fund. Money in the Fund not currently needed to meet the obligations of the Fund may be invested. Interest which accrues from these investments shall be deposited in the Fund.
(3) Money in the Fund at the end of a particular fiscal year does not revert to the city’s General Fund.
(Prior Code, § 3.88.010)
(B) Receipts.
335 | State shared tax distribution |
335.18 | Wagering tax distribution |
338 | Local government shared revenue |
360 | Miscellaneous revenues |
361 | Interest on investments |
390 | Other financing sources |
395 | Sale of investments
|
(Prior Code, § 3.88.020)
(C) Disbursements. As stated previously, money in the Fund may be expended for any purpose permitted by state statutes for other revenues of the city.
(Prior Code, § 3.88.030)
(Ord. 2004-06, passed 5-3-2004)