(A) There is created a Cumulative Capital Improvement Fund for the purpose of receiving cigarette tax distributions for the state and such other funds as may be appropriate under the laws of the state.
(B) The funds accumulated in the Cumulative Capital Improvement Fund so created, shall be expended only for those purposes permitted by IC 6-7-1-31.1.
(C) This section shall be in full force and effect from and upon its adoption in accordance with the law. This section is intended to constitute or re-constitute the Cumulative Capital Improvement Fund pursuant to the provisions of IC 6-7-1-31.1 as most recently amended by Public Law 1-1990, Section 83.
(Ord. 4-14-92, passed 4-27-92)