(A) There is hereby created, pursuant to I.C. 36-8-14-2, a cumulative building and equipment fund for the purchase, construction, renovation or addition to buildings used by the Fire Department, and for the purchase of firefighting equipment, including making the required payments under a lease rental with option to purchase agreement made to acquire the equipment.
(B) As the tax is collected, the monies shall be deposited in a special account to be known as the Building, Remodeling, Firefighting, and Police Radio Equipment Fund. Expenditures may be made from the fund only after an appropriation has been made in the manner provided by statute for making other appropriations.
(C) The tax rate may not exceed the maximum allowable rate established by state law under I.C. 36-8-14-4(a). The tax rate is established at $0.0333 per $100 assessed value for assessments in 2022 and thereafter.
(D) The revenue accumulated in the Fire Cumulative Capital Fund may be used for all permissible uses as established by the following state statue: I.C. 36-8-14, Cumulative Fire Fund.
(E) The tax shall be levied annually and must be advertised annually in the same manner as other tax levies.
(F) This fund and tax rate take effect upon the annual approval of the Department of Local Government Finance.
(Ord. 1299-6-93, passed 6-9-1993; Am. Ord. 1453-06-02, passed 7-10-2006; Am. Ord. 1637-3-22, passed 3-16-2022)