§ 32.10 RAINY DAY RESTRICTED - LOCAL ROAD AND STREET FUND.

   (A)   There is hereby established Fund 261 Rainy Day Restricted - Local Road and Street Fund (“Rainy Day LRS Fund”).

   (B)   The Rainy Day LRS fund is to receive transfers of:

      (1)   Unused and unencumbered funds under:

         (a)   Indiana Code 36-1-8-5 and from the Local Road and Street Fund;

         (b)   Indiana Code 6-3.5-1.1-21.1;

         (c)   Indiana Code 6-3.5-6-17.3; or

         (d)   Indiana Code 6-3.5-7-17.3.

      (2)   Any other funding source:

         (a)   Specified in any ordinance or resolution adopted under I.C. § 36-1-8-5.1; and

         (b)   Not otherwise prohibited by law.

   (C)   This Fund takes effect upon approval by the State Board of Tax Commissioners.

   (D)   The Rainy Day LRS Fund is to be spent for such purposes as lawful and to protect the public health, welfare or emergency needs of the town, as well as to provide matching funds for grant applications to the Indiana Department of Transportation.

(Ord. 2016-0719A passed 7-19-2016)

Editor’s note:

   I.C. 6-3.5-1.1-21.1 was repealed by 2015 Public Law 243, § 1.

   I.C. 6-3.5-6-17.3 was repealed by 2015 Public Law 243, § 7.1.