The Common Council of the city that Fund 257 in connection to the LOIT Special distribution pursuant to SEA 67 is hereby established and that the funds received as part of the special distribution be allocated as follows:
(A) At a minimum 75% of the funds are deposited into Fund 257 and used for local roads and streets and will be budgeted for the budget year 2015; and
(B) Twenty-five percent may be placed into the General Fund or Rainy Day Fund per Council’s request.
(Ord. 2016-14, passed 6-21-2016)