A. Establishment of Fund. There is established a fund to be known as the “Tax Sale Fee Fund.” This fund shall be funded by the payments received by Jasper County for advertising and abstract expenses in direct relation to the annual tax sale.

B. Purpose of Fund. The purpose of the Tax Sale Fee Fund shall be to provide funds for the costs associated with the contractual expenses of advertising and abstracting fees. These funds shall be accepted at the time of payment of taxes and expenses on or before the annual tax sale. The Tax Sale Fee Fund will expedite the actual payments to vendors associated with the annual tax sale.

C. Appropriation Not Required – Method of Spending. The Tax Sale Fee Fund shall not require appropriation by the Jasper County Council, and shall be spent in accordance with the general rules as to which other County funds are subject.

D. Investment Policy. All amounts placed in the Tax Sale Fee Fund shall be invested and reinvested pursuant to the standard procedures followed by the County, and the fund shall not revert to the County General Fund at the end of the year. [Ord. 8-3-98A §§ 1—4.]