The Director of Finance is authorized and directed to apportion interest on investments as follows:
(a) To the General Fund of the City of Louisville, based on the month-end cash balance in this fund for each month of the fiscal year.
(b) To the Motor Vehicle License Tax Fund, per Ohio Attorney General's opinion number 82-031, based on the month-end cash balance of the fund for each month of the fiscal year.
(c) To the appropriate capital projects funds, if the cash balance involves loan proceeds to construct improvements, based on the month-end cash balance of the fund for each month of the fiscal year.
The Finance Director is directed to allocate interest earnings based on the month-end cash balances in the aforementioned funds and apportionment of the interest earned on all investments. (Ord. 10-02. Passed 1-19-10.)