(A) The funds accumulated in the Cumulative Capital Development Fund will be used for capital improvements as described in I.C. 36-9-16-2 and 36-9-16-3.
(B) Notwithstanding division (A) above, funds accumulated in the Cumulative Capital Development Fund may be spent for purposes other than the purposes stated in division (A) above if the purpose is to protect the public health, welfare, or safety in an emergency situation which demands immediate action. Money may be spent under the authority of this division only after the Mayor issues a declaration that the public health, welfare, or safety is in immediate danger that requires the expenditure of money in the Fund.
(Ord. 30-1984, passed 8-14-84; Am. Ord. 4-1987, passed 1-13-87; Am. Ord. 3-1990, passed 1-9-90; Am. Ord. 4-1990, passed 2-13-90; Am. Ord. 5-1990, passed 2-19-90; Am. Ord. 18-2002, passed 7-29-02)