(A) Establishment. A Levy Excess Fund is hereby established for the purpose of receiving funds in excess of the 102% of the tax levy in any calendar year.
(B) Deposit of funds. The Clerk-Treasurer shall deposit all money received from the Lake County Auditor into the Levy Excess Fund.
(C) Use of funds. Per IC 6-1.1-18.5-17, the Department of Local Government Finance may require the amount in its Levy Excess Funds to be transferred in which the reductions were made to reduce the amount raised by taxation.
(Ord. 2015-40, passed 12-28-15)