a. The Town Council hereby acknowledges receipt of notification that the Town will be allocated Grant Funds from the ARP; that as a consequence of same, the Town Council hereby establishes the Town of Schererville ARP Local Fiscal Recovery Grant Fund in conformance with the provisions of applicable law.
b. The Town Council hereby directs that all funds allocated to the Town of Schererville from the ARP, upon receipt, shall be deposited into the newly established Town of Schererville ARP Local Fiscal Recovery Grant Fund for receipt of same, and use thereafter, consistent with the express and verified purposes of the ARP. The Town Clerk-Treasurer is hereby directed and authorized to so establish the ARP Local Fiscal Recovery Grant Fund in conformance with applicable state and federal law. The Clerk-Treasurer shall further deposit any grant funds received from the ARP into the newly established Town ARP Local Fiscal Grant Fund for eligible and permitted uses consistent with the ARP requirement.
c. The Town Clerk-Treasurer, upon receipt of ARP grant funds, shall process additional appropriation proceedings as appropriate and required. Funds deposited into the ARP Local Fiscal Recovery Grant Fund shall be used for any lawful purpose, but only upon the Town Clerk-Treasurer and Town Council concurring in the eligibility of proposed use of such funds as presented for compliance with the Town of Schererville ARP Disbursement Plan. The Town Council and Town Clerk-Treasurer acknowledge and concur that the types of uses of the ARP Local Fiscal Recovery Grant Funds shall be as permitted and authorized by the ARP Section 603(c), and other forthcoming substantive and specific fund usage guidance, as amended from time to time. The Town Council contemplates use for necessary investments in water, sewer and related infrastructure and as otherwise permitted under Section 603(c) of the ARP. The Town Council will further develop and establish a Town of Schererville, Lake County, Indiana, ARP Disbursement Plan for usage purposes and monitor same for amendment and update from time to time thereafter as appropriate. The Town Clerk-Treasurer is further directed to maintain the requisite and legally required detail of fund usage and expenditures in conformance with applicable law, and to segregate said fund for purposes of audit hereafter by the State Board of Accounts, or any other legal audit agency or entity.
(Ord. No. 1969, § 1-3, 5-12-21)