(A) Pursuant to I.C. 36-1-8-5.1, there is hereby ordained the establishment of a fund to be entitled a Rainy Day Fund.
(B) Pursuant to I.C. 36-1-8-5, all unused and unencumbered balances remaining in any fund may be transferred to the Rainy Day Fund.
(C) In any fiscal year, no more than 10% of the town’s annual budget adopted under I.C. 6-1.1-17 may be transferred to the Rainy Day Fund.
(Ord. 081004A, passed 8-10-2004)