(A) An account is established for the purpose of depositing monies from the granting agency, appropriations from city accounts or from any lawful source for paying the required obligations for the City of Madison on the accepted grant.
(B) The account shall be named the Indiana Humanities Grant Nonreverting Fund and all funds contained in the account shall be expended only for the exclusive purpose of paying expenses related to the grant.
(C) The account shall be nonreverting and exist perpetually unless terminated by a subsequent ordinance enacted by the Common Council.
(D) If the account is terminated by a subsequent ordinance enacted by the Common Council, the remaining balance of the terminated account shall revert to the general budget of the Common Council.
(Ord. 2021-12, passed 9-21-21)