(A) There is hereby established the Town of Winfield Major Moves Construction Fund which shall be a Special Revenue Fund under the rules, regulations, and requirements of applicable state law, including the Indiana Code, as amended from time to time, as well as the administrative rules and requirements of the Indiana State Board of Accounts.
(B) Any monies received from the Major Moves Construction Fund distribution from the Auditor of Lake County, Indiana, shall be deposited into the Town of Winfield Major Moves Construction Fund.
(C) The monies deposited into the Town of Winfield Major Moves Construction Fund shall be utilized and expended only for the purposes set forth in I.C. 8-14-16-5.
(D) The Clerk-Treasurer is authorized and directed to take all appropriate and required steps to establish said Town of Winfield Major Moves Construction Fund in conformance and compliance with all applicable law, as amended from time to time.
(E) All existing Town Code sections and ordinances, or parts thereof, in conflict with the provisions of this section, are hereby deemed null, void, and of no legal effect, and are specifically repealed.
(Ord. 149, passed 10-17-2006)