(A) The City Council resolves that a need now exists for the establishment of a Cumulative Capital Development Fund for the following purposes: to provide money for any purpose for which property taxes may be imposed within the municipality as described in IC 36-9-15.5-2.
(B) This Board will adhere to the provisions of IC 36-9-15.5-6. The proposed Fund will not exceed $0.05 on each $100 of assessed valuation. Said tax rate will be levied beginning with taxes for 2022 payable 2023.
(C) Proofs of publication of the public hearing held on the eighteenth day of April, 2022, and a certified copy of Resolution 2022-007 shall be submitted to the Department of Local Government Finance of the State of Indiana as provided by law. This Cumulative Fund is subject to the approval of the Department of Local Government Finance.
(Ord. 93-1, passed 2-1-93; Am. Res. 2022-007, passed 4-18-22)