a. There is hereby established the Town of Schererville Major Moves Construction Fund, which shall be a special revenue 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. All monies and funds received by the Town from the Major Moves Construction Fund distribution from the Auditor of Lake County, Indiana, shall be deposited into the Town of Schererville Major Moves Construction Fund.
c. The monies deposited into the Town of Schererville Major Moves Construction Fund shall be utilized and expended only for the purposes set forth in Indiana Code § 8-14-16-5, as the same exists presently, or as amended from time to time hereafter.
d. The Clerk-Treasurer of the Town is authorized and directed to take all appropriate and required steps to establish said Town of Schererville Major Moves Construction Fund in conformance and compliance with all applicable law, as amended from time to time.
(Ord. No. 1681, §§ 1-4, 9-27-06)