(A) The city hereby establishes the "Industrial Park EDA Fund" for purposes of accounting for future development, maintenance, and preservation obligations of the EDA. Revenue to the Industrial Park EDA Fund will primarily come from the Commission, but may also be funded by donations and like sources.
(B) The Industrial Park EDA Fund shall be perpetual. Any fund balance existing therein at the time of termination of the Industrial Park Fund shall revert to the EDIT Fund, so long as such reversion is allowable under Indiana law.
(C) The Industrial Park EDA Fund shall be administered in accordance with Indiana law, general rules, ordinances, and policies of the city.
(Ord. 16-1340, passed 8-15-16)