(A) There is hereby created a special nonreverting fund to be known as the ARP Coronavirus Local Fiscal Recovery Fund No. 176.
(B) There shall be deposited into the fund any and all monies received from either the federal or state government pursuant to the provisions of the American Rescue Plan Act of 2021.
(C) Expenditures may be made from Fund No. 176 for expenditures incurred by the Town of McCordsville, Indiana by December 31, 2024 for any of the following categories:
(1) To respond to the public health emergency with respect to the Coronavirus Disease 2019 (COVID-19) or its negative economic impact, including assistance to households, small businesses and nonprofits, or to aid the impacted industries, such as tourism, travel, and hospitality.
(2) To respond to workers performing essential work during the COVID-19 public health emergency by providing premium pay to eligible workers of McCordsville, Indiana that are performing such essential work or by providing grants to eligible employers that have eligible workers who perform essential work.
(3) For the provision of government services to the extent of the reduction in revenue of McCordsville, Indiana due to the COVID-19 public health emergency relative to revenues collected in the most recent full fiscal year of McCordsville, Indiana.
(4) To make necessary investments in the water, sewer, or broadband infrastructure.
(Ord. 051121, passed 5-11-2021)