(A) The Tippecanoe County Rainy Day Fund is hereby established.
(B) The Rainy Day Fund may receive transfers of unused and unencumbered funds under I.C. 36-1-8-5 in respect to funds raised by general or special tax levies, supplemental distributions of county economic development income tax and county option income tax pursuant to I.C. 6-3.5-7-17.3, and such other sources as the County Council may from time to time determine.
(C) The purpose of the Rainy Day Fund shall be to provide such supplemental funding as may be determined reasonable and necessary by the County Council for the uses and purposes for which funds from the county economic development income, tax, county option income tax and county general fund may otherwise be expended.
(D) Prior to appropriating funds from the Rainy Day Fund, the County Council shall determine that sufficient funds are not otherwise available from the county economic development income tax, county option income tax or county general fund to provide funding for the proposed uses and purposes for which such additional appropriation is requested.
(E) Distributions to the Rainy Day Fund from the county economic development income tax and from the county option income tax shall be appropriated and used only in the same manner and for such purposes as certified distributions from such sources may otherwise be expended.
(Ord. 2004-06-CL, passed 2-10-04)