There is hereby established a non-reverting fund called the “257 LOIT Special Distribution Fund” and 75% of the monies received from the special distribution provided for in Senate Enrolled Act No. 67 shall be restricted to the uses allowed by I.C. 6-3.6-9-17(h)(1)(A). The balance of the funds received from the special distribution shall also be deposited in the 257 LOIT Special Distribution Fund. The monies received shall be subject to the same appropriation process as other town funds that receive tax revenues.
(Ord. 8-2016, passed 7-25-2016)