a. There is established a special fund which shall be known as the "Building Fund."
b. "Capital Improvements" are defined as structures constructed for the benefit of the Town of Schererville which have a value in excess of two hundred fifty thousand dollars ($250,000.00), exclusive of land.
c. Funds shall be paid into aforesaid "Building Fund" as determined available by the Town Council of the Town of Schererville, Indiana.
d. The funds deposited shall be used for the following purposes:
1. Payment for preliminary engineering and plans related to the construction of buildings and facilities on behalf of the Town of Schererville, Indian, the projected cost of aforesaid buildings and facilities being in excess of two hundred fifty thousand dollars ($250,000.00).
2. For the construction costs associated with any and all capital improvements as defined in this ordinance.
(Ord. No. 1391, § § 1-4, 9-10-97)