§ 36.03. GRANT FUND.

Latest version.

(A) To meet the requirements of I.C. 36-1-8-12, there is hereby created the Grant Fund. This fund shall receive state grant money and matching money which may only be used for the specific purposes of the grant for which the money was received.
(B) Upon receipt of any grant money requiring local matching money, the town shall immediately deposit the grant money and matching money into the fund which shall be earmarked for the specific purpose for which it was received.
(C) Upon completion of the project for which the grant money was provided, and in the event money remains in the fund, the town shall transfer the state’s share of the remaining money to the Treasurer of State for deposit in the fund from which the grant was made and transfer the town’s pro rata share of the remaining money to the town’s General Fund.
(Ord. 2017-21, passed 11-13-17)

                    
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