(A) There is hereby established a special non-reverting fund to be known as the Law Enforcement Investigation Aid Fund. Whenever the Town Marshal and/or his or her designees seize funds under I.C. 34-24-1-1 or 21 U.S.C. § 881, the proceeds shall be immediately turned over to the Clerk-Treasurer for deposit into the Law Enforcement Investigation Aid Fund.
(B) Disposition of proceeds forfeited property pursuant to I.C. 34-24-1-5 shall be deposited into the general fund of the unit employing the law enforcement officers that seized the property and excess funds, herein defined as the Town Marshal and/or his or her designees expense for investigation, shall be transferred to the Treasurer of the state for deposit in the common school fund.
(C) In accordance with I.C. 34-24-1-9, proceeds forfeited under 18 U.S.C. § 981(e), 19 U.S.C. § 1616a or 21 U.S.C. § 881(e) and any related regulations adopted by the United States Department of Justice shall be deposited into the non-reverting fund known as the Law Enforcement Investigation Aid Fund.
(D) Proceeds deposited in the fund known as the Law Enforcement Investigation Aid Fund may only be expended with the approval of the Town Council President of the town, for the benefit of the Town Police Department, for purposes consistent with federal laws and regulations.
(Ord. 071106B, passed 7-11-2006)