§ 32.27 RIVERBOAT WAGERING TAX REVENUE SHARING FUND.

   (A)   A River boat Wagering Tax Revenue Sharing Fund is established under the auspices of the Clerk-Treasurer.

   (B)   All monies received from Riverboat Wagering Tax Revenue Sharing Distribution shall be deposited into the account.

   (C)   Pursuant to I.C. 4-33-13-5(f), the monies collected and deposited in the Riverboat Wagering Tax Revenue Sharing Fund may only be used for the following purposes:

      (1)   To reduce the property levy of the city;

      (2)   To fund additional property tax replacement credits in property tax increment allocation areas;

      (3)   To fund sewer and water projects, including stormwater management projects;

      (4)   For police and fire pensions; and

      (5)   To carry out any governmental purpose for which the Council appropriates the Riverboat Wagering Tax Revenue Sharing.

(Ord. 03-2473, passed 9-15-03; Am. Ord. 21-2921, passed 9-20-21)