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There is hereby established a separate fund called the “Federal Shared Revenue Fund.” Said fund shall be used to receive all monies received by the town of South Prairie as its share of the federal shared revenue, pursuant to Title 1 of the State and Local Fiscal Assistance Act of 1972 and in accordance with federal regulations published under 31 Code of Federal Regulations, Subtitle B, Part 51 (Federal Assistance to State and Local Governments). [Ord. 72 § 1, 1973.]