(A) A need now exists for the reestablishment of the Cumulative Capital Development Fund by the town for such purposes and uses as authorized under I.C. 36-9-16-2 and I.C. 36-9-16-3 that are strictly related to expenditures on the following items:
(1) Fleet vehicles for the town;
(2) Fleet vehicles for the town's Police Department;
(3) IT purposes for the town;
(4) IT purposes for the town's Police Department; and
(5) General repairs to town buildings.
(B) A tax rate of five cents ($0.05) be levied on each one hundred dollars ($100) of taxable real and personal property within the taxing district.
(C) The tax will be levied in 2022, payable in 2023 and annually thereafter as provided for under Indiana law.
(`92 Code, §2-272) (Res. 94-10, passed 4-14-94; Res. 2002-14, passed 6-27-02; Am. Ord. 2019-03, passed 2-28-19; Am. Ord. 2021-03, passed 2-11-21; Am. Ord. 2022-07, passed 3-10-22)
Statutory reference:
Cumulative Capital Development Fund, see I.C. 36-9-15.5-2 et seq.
Cumulative Funds and Cumulative Capital Improvement Funds, see I.C. 36-9-16-1 through 36-9-16-6