a. There is hereby established the Special Newspaper Non-Reverting Fund, which shall be a non-reverting fund under the rules and 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. Any monies collected from the sale of advertisement in the Town's quarterly newspaper shall be deposited into the Newspaper Non-Reverting Fund, as well as any and all other monies that are specifically identified to be used in connection with said quarterly newspaper.
c. The monies deposited into the Newspaper Non-Reverting Fund shall be utilized and spent only to supplement the costs incurred in connection with publication of the Town's quarterly newspaper, and all activities related thereto, as approved and authorized by the Town Council.
d. The Clerk-Treasurer of the Town is authorized and directed to take all appropriate and required steps to establish said special Newspaper Non-Reverting Fund in conformance and compliance with all applicable law, as amended from time to time.
(Ord. No. 1622, §§ 1-4, 7-14-04)