(A)   Creation of the Fund. There is hereby established for the city a “Rainy Day Fund”, pursuant to the provisions of I.C. 36-1-8-5.1.
(Prior Code, § 33.100)
   (B)   Purpose of the Fund. The Rainy Day Fund shall be a repository for such unused and unencumbered balances as may remain in other city accounts. Moneys in the Rainy Day Fund shall be held to meet unusual or unexpected expenses not otherwise provided for in the budget.
(Prior Code, § 33.102)
   (C)   Transfers to the Fund. In any fiscal year, not more than 10% of the city’s total budget for that fiscal year may be transferred by the Common Council to the Rainy Day Fund.
(Prior Code, § 33.104)
   (D)   Appropriations from the Fund. Before making an appropriation from the Rainy Day Fund, the Common Council shall make a finding that the proposed use of the moneys to be appropriated is consistent with the intent of the Fund.
(Prior Code, § 33.106)
(Ord. G-02-16, passed 9-24-2002)