(A) There is hereby established the city Unemployment Compensation Fund, hereinafter referred to as the Fund.
(B) The Common Council shall from time to time appropriate into the Fund such amounts as the Council believes in their discretion would be resonable to provide a balance to pay any payments due from the city to the Indiana Department of Workforce Development pursuant to the election filed by the city.
(C) The Fund shall not revert at the end of the year, and all amounts remaining in the fund at end of the year shall continue to accumulate from year to year.
(D) The Clerk-Treasurer shall pay all amounts due and owning to the Indiana Department of Workforce Development pursuant to the election from the Fund.
(Ord. 59-11-96, passed 12-9-96)