§ 32.10 LOIT SPECIAL DISTRIBUTION FUND.

(A) Prince’s Lakes Town Fund 257, titled LOIT Special Distribution Fund is hereby created. This fund is to be used exclusively for engineering, land acquisition, construction, resurfacing, maintenance, restoration, or rehabilitation of both local and arterial road and street systems.

(B) Seventy-five percent of the town’s 2016 special distribution from Johnson County’s LOIT trust account will be transferred to and held in the LOIT Special Distribution Fund.

(Ord. 383, passed 5-16-16)

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