Each city and town that receives tax revenue under IC 4-33-12-6, IC 4-33-13, or an agreement to share a city's or county's part of the tax revenue may establish a riverboat fund. Money in the fund may be used for any legal or corporate purpose of the city or town.
The riverboat fund shall administered by the clerk-treasurer, and the expenses of administering the fund shall be paid from money in the fund. Money in the fund not currently needed to meet the obligations of the fund may be invested in the same manner as other public funds may be invested. Interest that accrues from these investiments shall be deposited in the fund. Money in the fund at the end of a particular fiscal year does not revert to the city or towns general fund.
RECEIPTS
* 335 State Shared Revenue
335.18 Wagering Tax Distribution
* Local Government Shared Revenue
* 360 Miscellaneous Revenues
361 Interest on Investiments
* 390 Other Financing Sources
395 Sale of Investments
DISBURSEMENTS
As stated previously, money in the fund may be expended for any purpose permitted by state statutes for other revenues of the city or town.
