(A) Fund establishment. Pursuant to the provisions of I.C. 4-6-15 et seq., the town shall establish two new funds as follows:
(1) There is hereby established a separate and distinct fund to be named and identified as the "Opioid Settlement Unrestricted Fund" with Fund Number 2256 (hereinafter referred to as "Opioid Settlement Unrestricted").
(2) There is hereby established a separate and distinct fund to be named and identified as the "Opioid Settlement Restricted Fund" with Fund Number 2257 (hereinafter referred to as "Opioid Settlement Restricted").
(B) Fiscal administration. The Clerk-Treasurer shall serve as the custodian for both the Opioid Settlement Unrestricted and Opioid Settlement Restricted funds and is hereby authorized to oversee the administration of these funds. The town's existing internal control policies, as amended from time to time, shall apply to the administration of the funds.
(C) Receipts. All moneys received from the Opioid Settlement Funds shall be receipted into the funds as follows:
(1) Thirty percent of the Opioid Settlement Funds received by the town shall be receipted into the Opioid Settlement Unrestricted Fund; and
(2) Seventy percent of the Opioid Settlement Funds received by the town shall be receipted into the Opioid Settlement Restricted Fund.
(D) Use of funds.
(1) To ensure dollars in the funds are used most effectively, the town shall adhere to the following five principals when determining how the funds are to be used:
(a) Spend the money to save lives;
(b) Use evidence to guide spending;
(c) Invest in youth prevention;
(d) Focus on racial equity; and
(e) Develop a fair and transparent process for deciding where to spend the funds.
(2) Money properly receipted into the Opioid Settlement Unrestricted Fund may be used for the benefit of the town.
(3) Money properly receipted into the Opioid Settlement Restricted Fund may be used for the treatment, education, and prevention programs for opioid use disorder and any co- occurring substance use disorder or mental health issues as defined or required by the settlement documents or court order. For purposes of this division, the town may use money in the Opioid Settlement Restricted Fund for any of the uses described in the List of Opioid Remediation Uses, which said list is incorporated herein by reference and attached to Ord. 832 as Exhibit A.
(4) Notwithstanding any of the foregoing, all money in the funds shall be committed and used as specified by any settlement documents or court orders relating to any opioid litigation in which the town was a party.
(E) Non-reverting funds. Any and all monies in the funds at the end of the calendar year shall not revert to another fund, but shall remain in said funds as separate, nonreverting funds.
(Ord. 832, passed 12-19-2022)