(A) The fund proceeds shall be used in accordance with Senate Enrolled Act 67. Seventy-five percent of the one-time distribution shall be restricted to the following uses:
(1) Engineering, land acquisition, construction, reserves, maintenance, restoration or rehabilitation of both local and arterial road and street systems;
(2) Local costs required to undertake a recreational or reservoir road project;
(3) The purchase, rental or repair of highway equipment;
(4) Providing a local match for the INDOT, local road and bridge matching grant;
(5) Capital projects for aviation; and
(6) The payment of principal and interest on bonds sold primarily to finance road, street or thoroughfare projects.
(B) Pursuant to Senate Enrolled Act 67, after the use of the first 75% of said one-time distribution, the remaining 25% will be non-restricted and may be used for any purpose.
(Ord. 3744, passed 5-16-16)