ORDINANCE 11-2016 AN ORDINANCE ESTABLISHING A LOIT SPECIAL DISTRIBUTION PURSUANT TO INDIANA CODE 6-3.6-9-17 WHEREAS, Indiana Code 6-3.6-9-17 authorizes the State Budget Agency make a one-time special distribution to each county having a positive balance in the county's account as of December 31, 2014. Before June 1, 2016, the county auditor shall distribute to each taxing unit an amount equal to the taxing unit's allocation amount. WHEREAS, the Town Council of the Town of Plainfield now determines it to be in the best interest of the Town and its taxpayers that a LOIT Special Distribution fund be established for the purpose of accumulating funds for the operation of the municipality and its various departments when the Town does not have sufficient levies or funds to pay such costs, including, but not limited, salaries and wages, costs of services, supplies, equipment, capital improvements, repairs and similar expenditures; and WHEREAS, pursuant to said statute, the Department of Local Government Finance may not reduce the actual or maximum permissible levy of an Indiana town as a result of a balance in the LOIT Special Distribution Fund; NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF PLAINFIELD, INDIANA, AS FOLLOWS: Section 1. Creation of LOIT Special Distribution Fund. There is hereby established a "LOIT Special Distribution Fund" to receive a one-time special distribution required under SEA 67 from a county's trust account maintained by the State. Section 2. Purposes of the Fund. The funds on deposit in the LOIT Special Distribution Fund may be used for counties, cities, and towns on the use of at least 75% of the special distribution received for infrastructure as found under Indiana Code 6-3.6-9-17(h)(1)(A). The remaining part may be used for any of the purposes of the county, city, or town. Section 3. Appropriations. The Town Council of the Town of Plainfield may authorize the expenditure of funds from the LOIT Special Distribution Fund by appropriations made in the same manner as other funds are appropriated that receive tax monies, upon making a finding that the proposed use of the funds is consistent with the intent of the fund. Section 4. Effective Date. This Ordinance shall be in full force and effect from and after the date of its passage. ADOPTED this 13th day of June, 2016. TOWN COUNCIL OF THE TOWN OF PLAINFIELD Robin G. Brandgard, President Kent McPhail Bill Kirchoff Lance Angle Dan Bridget ATTEST: Wes Bennett, Clerk-Treasurer of The Town of Plainfield, Indiana HCF-474 06/18 & 25 #1203849 hspaxlp
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