(A) Common Council has determined a need exists for the establishment of a LOIT Special Distribution Fund for the purpose of receipt and account for the restricted portion of the one-time LOIT special distribution received from the Indiana State Budget Agency and distributed by the White County Auditor, all pursuant to IC 6-3.6-9-17.
(B) The sources of funding for the newly established fund may include said distribution and any other funding source not specifically prohibited by law. This fund shall be subject to the same appropriation process as other municipal funds.
(Ord. 2016-10, passed 5-2-16)