(A) Creation of special fund. There is hereby established a special fund to be known as Fund #275 - Kell Road Bridge Improvement Fund.
(B) Purpose of the fund. The purpose of this fund is to be used for expenses incurred through the Town’s federal aid project through the Indiana Department of Transportation (Des. No. 1902837) scheduled for construction in fiscal year 2025.
(C) Expiration of fund. In the event the Kell Road Bridge Improvement Fund is no longer serving a purpose, the Council has the discretion to transfer the funds into any home-ruled fund for the purpose of funding a bridge improvement project. If the project is complete and the balance of the fund is $0, the Council can choose to eliminate the fund.
(Ord. 2021-008, passed 6-7-21)