(A) Establishment. There is hereby established a Westfield Economic Development Fund. All fees received by developers and others shall be deposited into this Fund.
(B) Limitation on fees charged. Fees charged to developers and others by the Commission shall not exceed 1% of any bond issue up to a maximum of $10,000, within purview of Council to modify if desired.
(C) Use of Fund. All funds received by the Economic Development Commission from fees shall be expended in accordance with the provisions of I.C. 36-7-12.
(Prior Code, § 26-102) (Ord. 94-17, passed 11-14-1994)