(A) The source of the funds to be placed in the Firefighting Fund are payments made pursuant to the contracts with Hart Civil Township and Lane Civil Township, and appropriated funds from the town.
(B) The purpose of expenditures from the Firefighting Fund are all expenses incurred by the Lynnville Volunteer Fire Department allowed in the annual budget approved by the town and the State Board of Tax Commissioners.
(C) The Firefighting Fund shall continue in existence unless terminated in accordance with any of the following:
(1) Termination of the contracts with Lane Civil Township, Hart Civil Township and the Lynnville Volunteer Fire Department;
(2) Dissolution of the Lynnville Volunteer Fire Department; and
(3) A determination by the town, Hart Civil Township and Lane Civil Township that the Fund is no longer needed.
(D) If the Fund is terminated, all remaining revenue shall be used for fire protection or returned to the appropriate general funds.
(E) The town shall be responsible for receiving and disbursing from the Firefighting Fund and to keep records of those receipts and disbursements.
(F) All funds received need not be disbursed in the year received, but may accumulate for the purpose of payment for larger expenditures.
(Ord. 2004-5, passed 3-2-2004)