(A) (1) It is the intention of the Common Council to establish a Police Drug Buy Fund within the City Controller's office. The fund will comply with Home Rule Statute I.C. 36-1-3 and Guidelines for Withdrawal of Money and Reporting Procedures of Enforcement Aid Fund Monies, Indiana State Police Department.
(2) Likewise, compliance with those Guidelines for Confidential Expenditures, Appendix J, Indiana Criminal Justice Planning Agency Financial Guide are to be upheld. All revenues and expenditures of funds will be monitored by the Chief of Police and the City Controller who must sign all requests for expenditures of funds.
(B) A Drug Buy Fund is hereby established at $10,000 as authorized by I.C. 36-1-8-3 and with the review and reimbursement claim signed by the Chief of Police and the City Controller. A properly approved claim must be signed and coded per the nature of reimbursement of petty cash. (Emergency beyond $10,000.)
(C) All investment/money market type expenditures will be generated from the City Controller's office with advice from the Chief of Police. Accrued interest from this instrument will be deposited separately into Fund 370. Likewise, monthly or quarterly accrued interest from any other type of financial institution will be deposited into Fund 370 in the same manner.
(Ord. G-91-299, passed 10-17-1991)