a. There is hereby established the Town Improvement Inspection Fee Special Non-Reverting Fund, which shall be a special non-reverting 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 improvement inspection fees paid pursuant to the provisions of the Town Subdivision Control Ordinance, as amended from time to time, in an amount equal to two percent (2%) of the cost of such improvements, as estimated by the Town Engineer, used to defray a portion of the costs incurred by the Town in the administration, planning, legal, engineering, inspection, review, and all other direct or indirect expenses incurred by the Town in connection with review and inspection of the installation of all improvements required by the Town Subdivision Control Ordinance, as amended from time to time, shall be deposited into the Improvement Inspection Fee Special Non-Reverting Fund, and said funds shall be utilized and expended only as permitted and authorized by the provisions of the Town Subdivision Control Ordinance, as amended from time to time, including, Section 10-274. Such funds deposited pursuant to the provisions set forth herein into the Improvement Inspection Fee Special Non-Reverting Fund shall be utilized and expended only as permitted by the specific provisions of Town Subdivision Control Ordinance, as amended from time to time, to pay the costs incurred by the Town in the administration, planning, legal, engineering, inspection, review, and all other direction or indirection expenses incurred by the Town in connection with review and inspection of the installation of all improvements required by the Town Subdivision Control Ordinance. Further, such funds shall be utilized and expended only as permitted and authorized consistent with the applicable 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.
c. The Clerk-Treasurer of the Town is authorized and directed to take all appropriate and required steps to establish the Improvement Inspection Fee Special Non-Reverting Fund in conformance and compliance with all applicable law, as amended from time to time, as set forth herein above, and in the Town Subdivision Control Ordinance regarding such fund, as amended from time to time.
(Ord. No. 1718, §§ 1-3, 11-20-07)