(A) Pursuant to IC 36-1-8-5.1, the town hereby establishes a Rainy Day Fund.
(1) The purposes of the Fund include: cases of fiscal emergency declared by the Council; matching funds for state, federal or grant funding.
(2) The sources of funding of the Fund shall include unused and unencumbered funds under: IC 36-1-8-5; IC 6-3.5-1.1-21.1; IC 6-3.5-6-17.3; IC 6-3.5-7-17.3; any donations specifically designated for deposit into the Fund; and any other funding source allowed by law.
(Ord. 2008-2-2, passed 2-21-08)
(B) There is hereby created a Fund 261 Rainy Day Restricted Fund for deposit of local road and street transfers, which may be subsequently transferred to a Local Road and Bridge Matching Grant Fund, to serve as local match dollars.
(C) There is hereby created a Fund 263 Rainy Day Restricted Fund for deposit of MVH transfers, which may be subsequently transferred to a Local Road and Bridge Matching Grant Fund, to serve as local match dollars.
(Am. Ord. 2016-7-1, passed 7-28-16; Am. Ord. 2016-12-1, passed 12-22-16)
Editor’s notes:
IC 6-3.5-1.1 was repealed by P.L.243-2015, Sec.1.
IC 6-3.5-6 was repealed by P.L.243-2015, Sec.7.
IC 7-3.5-7 was repealed by P.S. 243-2015, Sec. 8.