(A) Creation of special fund. There is hereby established a special fund to be known as Fund # 272 - Huntertown Tax Abatement Development Fund.
(B) Purpose of the fund. The purpose of this fund is to be used for the eligible uses described in Resolution 2020-025 of the criteria for the review of tax abatement applications for economic revitalization areas in the Town of Huntertown.
(C) Expiration of fund. In the event the Huntertown Tax Abatement Development Fund is no longer serving a purpose, the Council has discretion to transfer the funds into the Huntertown CEDIT Fund to be used for economic development activities and purposes.
(Ord. 2020-013, passed 10-5-20)