(A) Creation of Fund. The town hereby creates and establishes a special fund known as the “Opioid Settlement Restricted Fund” (Fund 2257) into which all monies in the form of restricted opioid settlements shall be deposited.
(B) Purpose of Fund. The primary purpose of the Fund is to accurately track the receipts of the restricted portion of the opioid settlement funds and the disbursements of the Fund for eligible uses attached in Exhibit A of Ordinance 59-2022.
(C) Responsibility of Fund. The Town Fiscal Officer shall be responsible for the deposits and disbursements of the Fund and shall keep records as to the disbursements, receipts, and current balance in such Fund at all times.
(D) Deposit of Funds. Upon receipt of restricted opioid settlement funds, the Town Fiscal Officer shall immediately deposit all receipts into the Opioid Settlement Restricted Fund.
(E) Disbursement of Funds. The Town Fiscal Officer is directed to only disburse funds from the Opioid Settlement Restricted Fund created hereunder upon a receipt of a claim approved by the Town Council.
(F) Limitation on the Use of Funds. Any funds placed in the Opioid Settlement Restricted Fund may not be withdrawn except for the purposes for which the Fund was created.
(Ord. 59-2022, passed 1-23-2023)