Jim Gutting, an attorney with the Indianapolis law firm of Barnes & Thornburg LLP, outlined different investment options county officials will have including putting some of the money in a non-reverting capital fund, investing the money with the Community Foundation of Southern Indiana, or creating a separate foundation to invest the funds.

Due to state statute, if the money is invested into a permanent endowment through the CFSI, the principal cannot be withdrawn, other than the interest amount earned off that principal, Gutting said.

CFSI Executive Director Linda Speed said she would have to study the statute more before agreeing with Gutting, but she said the foundation’s board “is very flexible with how they work with donors, and everything they want to do with that fund.”

“The funding group sets up the parameters and if they are valid and legal, they [board] will usually agree with them,” she said.

While both bodies want to use interest off the principal each year, which is expected to not exceed 5 percent, they want to protect that principal so it will continue to grow for future generations.

“We don’t want to make it too easy to get to the money.