§ 32.11 RAINY DAY RESTRICTED - MVH.

   (A)   There is hereby established Fund 263 Rainy Day Restricted - MVH Fund (“Rainy Day MVH Fund”).

   (B)   The Rainy Day MVH Fund is to receive transfers of:

      (1)   Unused and unencumbered funds under:

         (a)   Indiana Code § 36-1-8-5 and from the Motor Vehicle Highway 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 MVH 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   I.C. 6-3.5-1.1-21.1 was repealed by 2015 Public Law 243, § 1.

   I.C. 6-3.5-6-17.3 was repealed by 2015 Public Law 243, § 7.1.