(A) A non-reverting fund is hereby created to be known as the “Lake County General Obligation Bond Series 2014B” to be used for the deposit and use of proceeds of the General Obligation Bond Series 2014B.
(B) The funds in the Lake County General Obligation Bond Series 20148 Fund shall be used to pay for costs for repairs to existing county owned and occupied buildings, renovating the County Jail, paving roads within the county and constructing drainage projects within the county, a new soil and water/coop extension building, together with the incidental expenses in connection therewith.
(C) Any remaining monies at the end of the year shall not revert to the General Fund.
(Ord. 1380B, passed 1-13-2015)