HomeMy WebLinkAbout2016-OR-35ORDINANCE NO. 2016 -OR --.3,5
AN ORDINANCE ESTABLISHING A FUND FOR THE RECEIPT OF
SPECIAL LOIT DISTRIBUTIONS PURSUANT I.C. 6-3.6-9-17
WHEREAS, the Common Council for the City of Jeffersonville, Clark
County Indiana (hereinafter the "Council"), is the City's statutory Legislative and
Fiscal Body pursuant to Indiana Code 36-4-6 et seq.;
WHEREAS, Indiana Code 6-3.6-9-17, allocates a special distribution of
excess LOIT funds to county trust accounts, and;
WHEREAS, at least 75% of the said special LOIT distribution allocated
and distributed to a county, city, or town must be used exclusively for
infrastructure as set forth in I.C. 6-3.6-9-17(h)(1)(A), and;
WHEREAS, the Indiana Department of Local Government Finance has
required local political subdivisions in Indiana to establish a new and separate
fund to receive the said special LOIT distribution.
NOW, THEREFORE, BE IT ORDAINED by the Common Council as
follows:
1. That a new and separate fund is hereby established for the purpose
of receiving and disbursing money associated with the said special LOIT
distribution and shall be used only for purposes as set forth by I.C. 6-3.6-9-
17(h)(1)(A). This fund shall abide by all rules and regulations as prescribed by
Indiana Code and by the Indiana State Board of Accounts.
2. This Ordinance shall be in full force and effect upon adoption.
Voted For: Voted Against:
PASSED AND ORDAINED by the Common Council of the City of
Jeffersonville, Clark County, Indiana, upon this --90 day of 2016.
Matt P si t
Jeffersonville Common Council
ATTEST:
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Vicki Conlin, Clerk
City of Jeffersonville
PRESENTED by me to the Mayor of the City of Jeffersonville Clark County,
Indiana upon this day of 2016.
Vicki Conlin, Clerk
City of Jeffersonville
SIGNED and APPROVED by me upon this day of
2016. a
Mike Mdore, Mayor
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