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(A) The Cumulative Capital Development Fund is hereby established.
(B) The fund shall be funded each year by levying a tax, in compliance with I.C. 6-1.1-41, on the taxable property in the town, as authorized by I.C. 36-9-15.5-6(b), beginning with taxes assessed in 2018, payable in 2019, and for each year thereafter, at the rate set by the Town Council.
(Ord. 2018-3, passed 4-10-2018)