The Common Council hereby takes the following action to make the most efficient use of the Local Road and Bridge Matching Grant Fund:
(A) The creation of Fund 261, Rainy Day Restricted - Local Road and Street Fund.
(B) The transfer of existing road funds to Fund 261 in accordance with the requirements set forth by the State Board of Accounts.
(C) The deposit of any grant funds from the Local Road and Bridge Matching Grant Fund into Fund 261 in accordance with the requirements set forth by the State Board of Accounts.
(Ord. 10-2016, passed 7-25-2016)