(A) The Town Council has resolved that a need now exists for the establishment of a Cumulative Firefighting Building and Equipment Fund for the following purposes:
(1) The purchase, construction, renovation or addition to buildings used by the Fire Department or a volunteer fire company serving the unit;
(2) The purchase of firefighting equipment for use of the Fire Department or a volunteer fire company serving the unit, including making the required payments under a lease rental with option to purchase agreement made to acquire the equipment;
(3) The purchase of police radio equipment; and
(4) The purchase, construction, renovation, or addition to a building, or the purchase of equipment, for use of a provider of emergency medical services under I.C. 16-31-5 to the unit establishing the fund.
(B) The Council will adhere to the provisions of I.C. 36-8-14 and 6-1.1-41. The taxation rate for this fund will be as determined from time to time.
(C) This Cumulative Fund is subject to the approval of the State Board of Tax Commissioners or its successor.
(Ord. passed 6-8-1999)