(A) The Town Council hereby establishes the Road and Street Thoroughfare Fund of the town. This Fund shall be a non-reverting fund and shall receive any and all sums collected pursuant to this subchapter to be utilized for the purposes set forth. The Fund shall consist initially of one account based upon the current existence of one Impact Zone. In the event, and only in the event, that an additional Impact Zone for the town is created hereafter, a separate account shall be maintained for each separate Impact Zone established with the town. Interest earned on the Fund or on any account within the Fund shall be deposited and maintained within the Fund or the separate account. The Clerk-Treasurer of the town shall maintain records of the Fund or any account which may be established therein, and shall make an annual report of the Fund and accounts which shall be available to the public and fee payers, upon request.
(B) Pursuant to I.C. 36-7-4-1332(e), the Clerk-Treasurer is designated as the town official responsible for acting upon refund requests. In order to facilitate refunds when they may be due, the Clerk-Treasurer is directed to identify the purpose of any traffic impact fee paid in order that a refund, if any, may be paid from the Fund or account into which the fee was originally deposited.
(Ord. 2007-03, passed - - ; Ord. passed 7-7-2014)