(A) The LaPorte County Auditor shall establish an account for the purpose of receiving monies from MS-4 bonds called the MS-4 Bond Fund.
(B) The Administrator for this fund shall be the LaPorte County MS-4 Coordinator.
(C) The fund established with the LaPorte County Auditor for the holding of MS-4 bond monies shall be used exclusively for holding bonds paid as required by MS-4.
(D) Monies collected may be used for any necessary completion of bonded projects, and refunded upon completion of each project, subject to the discretion of the MS-4 Coordinator.
(E) The MS-4 Coordinator, in using his/her discretion shall follow all applicable rules and regulations concerning the collection, payment of monies, and release of bonds which are applicable to the MS-4 bonding process.
(Ord. 2014-5, passed 5-27-14)