(A) The Town Council hereby establishes the Town Adjusted Gross Income Tax Special Revenue Non-Reverting Fund (hereinafter the “Fund”), for the deposit, distribution and utilization of the public safety county adjusted gross income tax imposed, collected and distributed to the town pursuant to the provisions of I.C. 6-3.5-1.1-25, which fund shall be a Special Revenue Non-Reverting Fund.
(B) The Town Clerk-Treasurer, upon receipt of distribution of the Lake County public safety county adjusted gross income tax funds distributed to the town pursuant to the applicable provisions of I.C. 6-3.5-1.1-25, shall deposit the funds into the Town Adjusted Gross Income Tax Special Revenue Non-Reverting Fund established hereby for the purpose of continuing to carry out or provide at least one public safety purpose pursuant to the provisions of the I.C. 6-3.5-1.1-25(a). Further, the funds deposited into the Town Adjusted Gross Income Tax Special Revenue Non-Reverting Fund shall be appropriated and utilized for the public safety purposes permitted, as set forth in I.C. 6-3.5-1.1-25(a), as amended from time to time.
(C) Deposits and funds in the Town Adjusted Gross Income Tax Fund Special Revenue Non-Reverting Fund shall not revert to the General Fund at the end of each calendar year, but shall remain in the Town Adjusted Gross Income Tax Special Revenue Non-Reverting Fund, as permitted by applicable law.
(D) The Town Clerk-Treasurer is directed and authorized to take all necessary and appropriate actions to establish and account for the funds collected from the public safety county adjusted gross income tax distributed to the town by the Lake County Auditor for the purpose and uses of carrying out or providing at least one public safety purpose pursuant to the provisions of I.C. 6-3.5-1.1-25(a), all in conformance with applicable law.
(Ord. 230, passed 1-28-2014)