(A) There is established in the Office of the Clerk-Treasurer of the city a non-reverting fund known as the Transit Fund, pursuant to I.C. 36-1-3 et seq. The Fund is to be controlled by the Director of Public Works and Board of Public Works and Safety.
(B) (1) The purpose of the Transit Fund is for the payment of the Parks and Recreation Department’s portion of the costs related to the operations, reporting, and compliance with federal and state regulations.
(2) The Transit Fund will have the additional stated purpose of being the repository of receipts, reimbursements, and funding of the Department’s bus(es). The funds deposited in the account will be used for the operations and maintenance of the Department’s bus(es).
(C) All disbursements from the Transit Fund shall be for the purposes stated above as defined by the grant received by the city. These disbursements shall be made upon the order of the Board of Public Works and Safety and payable by the Clerk-Treasurer upon presentation of proper claims.
(1987 Code, § 2-178) (Ord. 9, 1988, passed 5-9-1988; Am. Ord. 10, 1992, passed 3-23-1992)