Sec. 5-109  Establishment of Non-Reverting Park and Recreational Fund.
   a.   There is established the Park and Recreational Fund of the Town of Schererville. This fund shall be a non-reverting fund and shall receive any and all sums collected pursuant to this ordinance to be utilized in connection with the purposes set forth herein. Said fund shall consist initially of one account based upon the current existence of one Impact Zone. In the event, and only in the event that an additional Impact Zone is created hereafter, a separate account shall be maintained for each separate Impact Zone established with the Town of Schererville. Interest earned on the fund, or any account within the fund, shall be deposited and maintained with the fund or the separate account. The Clerk-Treasurer of the Town of Schererville shall maintain records of the status of the fund or any account which may be established there and shall make an annual report of said fund and accounts which shall be available to the public in general and fee payers, upon request, in particular.
   b.   Pursuant to Indiana Code, § 36-7-4-1332(e), the Clerk-Treasurer is designated as the Town official responsible for acting upon refund requests. In order to facilitate refunds when they may be due, the Clerk-Treasurer is directed to identify the purpose of any impact fee paid in order that a refund, if any, may be paid from the fund or account into which the fee was originally deposited.
(Ord. No. 1400, § 10, 11-26-97)