There is hereby re-established Town of Zionsville Road Infrastructure Improvement Fund ("the Fund") of the town. The Fund shall be a non-reverting fund and shall receive any and all sums collected pursuant to this subchapter to be utilized in connection with the purposes set forth herein. The Fund shall consist initially of one account based upon the current existence of one impact zone. If, and only if, an additional impact zone is created hereafter, a separate account shall be maintained for each separate impact zone established within the town. Interest earned on the Fund or on any account with the Fund, shall be deposited and maintained within the Fund or the separate account. The Director of the Department of Finance and Records shall maintain records of the status of the Fund or any account which may be established therein, and shall make an annual report of the Fund and accounts to the Plan Commission and Department of Public Works on or before March 31 each year. This annual report shall be available to the public in general and fee payers, upon request. Pursuant to I.C. 36-7-4-1332, the Director of the Department of Finance and Records is designated as the town official responsible for paying refunds and interest. No funds shall be expended from the Fund without approval from the Town Council.
(Ord. 2023-23, passed 11-6-2023)