(A) There is established in the city a fund entitled the Motor Vehicle Highway II Fund.
(B) The amount of money conveyed to the city from the state for the improvement, maintenance, repair, replacement and care of Indiana State Highway 69 which was transferred to the city by the state shall be receipted into the Motor Vehicle Highway II Fund.
(C) The Clerk-Treasurer is authorized to make expenditures from this Fund for the purpose of paying any cost of improvement, maintenance, repair, replacement and care of that portion of Indiana State Highway 69 which was transferred to the city by the state, now known as Main Street.
(D) This Fund shall be a continuing fund and all monies receipted into the Fund shall be expended for the purposes set forth in division (C) of this section. Any balance remaining in the Fund at the end of a year shall not revert to the General Fund, but shall remain in the Motor Vehicle Highway II Fund to be expended for the purposes set forth in division (C) of this section.
(E) This Fund shall continue until terminated by ordinance.
(Ord. 98-23, passed 11-9-98)