a. There is hereby established the “Schererville Parks Community Center Special Construction Account Fund”, which shall be a Special Fund under the rules, regulations and requirements of applicable Indiana law, including the Indiana Code, as amended from time to time, as well as the Administrative Rules and Requirements of the Indiana State Board of Accounts.
b. That temporary loan funds from the Town Redevelopment Commission properly authorized and permitted to be transferred, as well as grant funds and/or authorized appropriations from any other town funds by proper and lawful action shall be deposited into the “Schererville Parks Community Center Special Construction Account Fund”, which funds, upon deposit, shall be used for purposes of payment of contract amounts for the design-build construction contract amounts owed Berglund Construction Company for the Schererville Parks Community Center facility project.
c. That the Clerk-Treasurer of the Town is authorized and directed to take all appropriate required actions to establish said “Schererville Parks Community Center Special Construction Account Fund”, as well as to deposit temporary loan funds from the Town Redevelopment Commission and/or Federal Grant funding, as the case may be, in conformance and compliance with all applicable law, as amended from time to time.
(Ord. No. 1817, 7-18-12)