(A) The Commissioners authorize the Auditor and Treasurer to invest the surtax and wheel tax in a separate fund called the County Highway Excise Surtax and Wheel Tax Fund.
(1984 Code, § 5-4)
(B) The purpose of this Fund is to have a fund into which the county may place surplus funds annually above what is needed by the county to repay any and all outstanding loans from the Distressed Road Fund administered by the State Department of Transportation. Effective calendar year 2004, $60,000 annually of the county’s surtax and wheel tax revenue shall be dedicated to the Distressed Loan Repayment Fund toward the repayment of any and all such loans. All surtax and wheel tax revenues collected in excess of $60,000 annually shall be placed in the newly established Surplus Surtax and Wheel Tax Fund to be dedicated to the construction, reconstruction, repair and maintenance of county roads as the county deems appropriate.
(Ord. O-CC-04-3, passed 5-20-2004)