Ordinance 06-2021 - Establishing the ARP Coronavirus Local Fiscal Recovery Fund

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TOWN OF MOORESVILLE ORDINANCE 6-2021 AN ORDINANCE ESTABLISHING THE ARP CORONAVIRUS LOCAL FISCAL RECOVERY FUND WHEREAS, the American Rescue Plan Act of 2021 ("ARP") was enacted on March 11, 2021; WHEREAS, the ARP provides funding to state and local governments, including the Town of Mooresville, Indiana ("Town"), to mitigate the fiscal effects stemming from the public health emergency with respect to COVID-19; WHEREAS; the Indiana State Board of Accounts has provided guidance and directive to funding recipients regarding accounting procedures; and WHEREAS, the Town is required to create a separate fund in connection with assistance provided through the ARP. NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF MOORESVILLE, INDIANA, THAT: Section 1. The above recitals are incorporated by reference. Section 2. The ARP Coronavirus Local Fiscal Recovery Fund (Fund #176) is hereby established. Section 3. The source of funding for the ARP Coronavirus Local Fiscal Recovery Fund ("Fund") includes monies allocated to the Town from the Coronavirus Local Fiscal Recovery Fund under Section 603 of the Social Security Act, as added by Section 9901 of the ARP. Section 4. The Town shall only appropriate and use money from the Fund to cover costs incurred by the Town by December 31, 2024, for the following purposes: (1) To respond to the public health emergency with respect to the Coronavirus Disease 2019 (COVID-19) or its negative economic impacts, including assistance to households, small businesses, and nonprofits, or aid to impacted industries such as tourism, travel, and hospitality;