(A) Expenditures from this fund shall be governed by the following provisions:
(1) Expenditures from this fund shall be for and in support of the purposes set forth in this subchapter and according to the laws and relevant guidelines governing the disposition of the assets, which comprise the fund, provided the expenditures shall be only operating in nature;
(2) Neither the establishment nor the purposes of this fund shall be in derogation of the lawful purposes or construed to exclude the lawful purpose or expenditure from such other funds of the municipality for the same or similar purposes;
(3) Expenditures from the fund may be made only upon appropriation by the fiscal body for the purpose for which the fund is specifically established, in the manner provided by statute for making other appropriations and shall be disbursed only on approved accounts payable vouchers allowed by the Town Council, all pursuant to IC 5-11-10, and 36-5 et seq.
(B) The sources of money for the fund are:
(1) User and application fees and other charges authorized and fixed by the Town Council in connection with Chapter 102 of this code, requiring the use of a special event permit in specific circumstances;
(2) Pursuant to IC 5-13-9 et seq. and this code, moneys in the fund may be invested provided that the yields from the purchase and sale of any such investments be deposited with the fund.
(C) The appropriations and the cash on deposit to the credit of the fund shall not revert to any other fund but remain with the Special Events Application Non-Reverting Operating Fund at year end and until such time as an ordinance is passed dealing with the disposition of the assets of this fund.
(D) The Clerk-Treasurer, as municipal fiscal officer, is hereby directed and authorized to perform such duties and keep such accounts as to fulfill the purpose of the funds herein named and to carry out the provisions of this subchapter.
(E) The Special Events Application Non-Reverting Operating Fund may be liquidated by an ordinance approved by the Town Council. Should there be any funds left on deposit in said fund, such funds shall revert to the General Fund of the town unless otherwise provided by ordinance of the Town Council.
(Ord. 2018-12, passed 5-14-18)