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6 <br /> <br />Government shall be redistributed equitably based on the composition of the successor <br />Local Government. In the event an allocation to a Local Government cannot be paid to the <br />Local Government, such unpaid allocations will be allocated to Local Abatement Funds <br />and be distributed in such proportions as set forth in Exhibit B. <br /> <br />L. City may direct payments to county. Any city allocated a share may elect to have its full <br />share or a portion of its full share of current or future annual distributions of settlement <br />funds instead directed to the county or counties in which it is located, so long as that county <br />or counties are Participating Local Governments[s]. Such an election must be made by <br />January 1 each year to apply to the following fiscal year. If a city is located in more than <br />one county, the city’s funds will be directed based on the MDL Matter’s Opioid <br />Negotiation Class Model. <br /> <br />III. Special Revenue Fund <br /> <br />A. Creation of special revenue fund. Every Participating Local Government receiving Opioid <br />Settlement Funds through direct distribution shall create a separate special revenue fund, <br />as described below, that is designated for the receipt and expenditure of Opioid Settlement <br />Funds. <br /> <br />B. Procedures for special revenue fund. Funds in this special revenue fund shall not be <br />commingled with any other money or funds of the Participating Local Government. The <br />funds in the special revenue fund shall not be used for any loans or pledge of assets, unless <br />the loan or pledge is for an Approved Use. Participating Local Governments may not <br />assign to another entity their rights to receive payments of Opioid Settlement Funds or their <br />responsibilities for funding decisions, except as provided in Section II.L. <br /> <br />C. Process for drawing from special revenue funds. <br /> <br />1. Opioid Settlement Funds can be used for a purpose when the Governing Body <br />includes in its budget or passes a separate resolution authorizing the expenditure of <br />a stated amount of Opioid Settlement Funds for that purpose or those purposes <br />during a specified period of time. <br /> <br />2. The budget or resolution must (i) indicate that it is an authorization for expenditures <br />of opioid settlement funds; (ii) state the specific strategy or strategies the county or <br />city intends to fund, using the item letter and/or number in Exhibit A to identify <br />each funded strategy, if applicable; and (iii) state the amount dedicated to each <br />strategy for a stated period of time. <br /> <br />D. Local government grantmaking. Participating Local Governments may make contracts <br />with or grants to a nonprofit, charity, or other entity with Opioid Settlement Funds. <br /> <br />E. Interest earned on special revenue fund. The funds in the special revenue fund may be <br />invested, consistent with the investment limitations for local governments, and may be