(A) The County Council, fiscal body of the county, hereby establishes a Rainy Day Fund for the county.
(B) The sources of funding for the Rainy Day Fund shall include:
(1) Transfers of unused and unencumbered funds authorized by I.C. 36-1-8-5, not to exceed 10% of the county’s total budget for the fiscal year;
(2) Supplemental distribution of excess county adjusted gross income tax (CAGIT) funds per I.C. 6-3.5-1.1-21.1;
(3) Supplemental distribution of excess economic development income tax (EDIT) funds per I.C. 6-3.5-6-17.3 and I.C. 6-3.5-7-17.3; and
(4) Supplemental distribution of excess funds from any special account of the county per I.C. 6-3.5-6-17.3 and I.C. 6-3.5-7-17.3.
(C) The purposes of the Rainy Day Fund shall include financing the development and implementation (including construction costs) for capital projects in and for the county.
(Council Ord. 2004-05, passed 2-17-2004)