§ 37.06 MAJOR MOVES CONSTRUCTION FUND.

   (A)   A cumulative, non-reverting Major Moves Construction Fund is hereby established.

   (B)   The funds shall be funded by revenues distributed to the town in accordance with I.C. 8-14-14-6(a)(3).

   (C)   The Clerk-Treasurer shall open an account named the Major Moves Construction Fund for the town.

   (D)   Funds received by the town as part of the Major Moves Construction Fund distribution shall be used and dedicated by the Town Council pursuant to I.C. 8-14-16-5, including any amendments therein as follows:

      (1)   Construction of highways, roads, and bridges;

      (2)   Provide funding for economic development projects as defined in I.C. 6-3.5-7-13.1(c) or I.C. 6-3.5-7-13.1(c)(2)(A) through 6-3.5-7-13.1(c)(2)(K);

      (3)   Provide matching funds for federal grants for any of these permissible uses of Major Moves Construction Fund money; and

      (4)   Provide funding for interlocal agreements under I.C. 36-1-7 for any of these permissible uses of Major Moves Construction Fund money.

(Ord. 1159, passed 10-24-2006)