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(A) There is hereby established a fund known as the “Rainy Day Fund.” This fund is separate from the city’s General Fund, and money in the Rainy Day Fund at the end of a fiscal year does not revert to the city’s General Fund or to any other fund.
(B) Sources of funding for the Rainy Day Fund may include the following:
(1) Unused and unencumbered funds under:
(a) I.C. 36-1-8-5; or
(b) I.C. 6-3.6-9-15.
(2) Any other funding source:
(a) As directed by the Seymour Common Council; and
(b) Not otherwise prohibited by law.
(C) Money in the Rainy Day Fund may be expended for any lawful municipal public purpose upon appropriation by the Seymour Common Council using the same appropriation process as other funds that receive tax money.
(Ord. 6, 2008, passed 2-25-2008)