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disbursements, reimbursements, and current balance in such fund at all <br />times. <br />4. DEPOSIT OF FUNDS. Upon receipt of monies from any other source <br />approved for deposit by the Town Council in the Mooresville Police IPEP <br />Fund, the Clerk Treasurer shall immediately deposit all receipts into the <br />Mooresville Police IPSP Fund. <br />5. DISBURSEMENT OF FUNDS. The Clerk Treasurer is directed to only <br />disburse funds from the Mooresville Police IPEP Fund created hereunder <br />upon receipt of a claim filed and approved by the Town Council. <br />6. LIMITATIONS ON THE USE OF FUNDS. The funds placed in the <br />Mooresville Police IPEP Fund may not be withdrawn except for the <br />purposes for which the Mooresville Police IPEP Fund was created. <br />This Ordinance shall be effective upon it passage by the Mooresville Town Council <br />and any publication required by law. <br />[The remainder of this page is intentionally blank.] <br />