(A)   The Town Council, together with the trustees of Brown and Lincoln Townships, join together under the provisions of I.C. 36-8-19 for the purpose of entering into an agreement to establish an equipment replacement fund to be used to purchase fire protection equipment that will be used to serve the entire territory.
   (B)   The levying of a tax shall be at the rate of three and thirty-three hundredths cents ($.0333) on each one hundred dollars ($100) of taxable real and personal property within the territory’s taxing district to provide monies for said fund, pursuant to I.C. 36-8-19-8.5.
   (C)   The Town Council, together with the Trustees of Brown and Lincoln Townships, agree to do the following:
      (1)   Impose a property tax to provide for the accumulation of money in the fund to purchase fire protection.
      (2)   Incur debt to purchase fire protection equipment and impose a property tax to retire the loan.
      (3)   Transfer an amount from the fire protection territory fund to the fire equipment replacement fund not to exceed five percent (5%) of the levy for the fire protection territory fund for that year, or any combination of these options. The property tax rate for the levy imposed may not exceed ten cents ($0.10). Before debt may be incurred, the fiscal bodies of all participating units must adopt identical ordinances specifying the amount and purpose of the debt. In addition, the State Board of Tax Commissioners must approve the incurrence of the debt using the same standards as applied to the incurrence of debt by civil taxing units.
      (4)   Money in the fund may be used by the provider unit only for those purposes set forth in the agreement among the participating units.
(`92 Code, § 2-283) (Ord. 96-8, passed 3-28-96; Am. Res. 2002-16, passed 7-11-02; Am. Ord. 2010-17, passed 7-8-10; Am. Ord. 2011-15, passed 7-14-11; Am. Ord. 2012-11, passed 7-12-12; Am. Ord. 2013-05, passed 2-28-13; Am. Ord. 2014-05, passed 4-10-14; Am. Ord. 2015-07, passed 3-26-15; Am. Ord. 2016-11, passed 5-26-16; Am. Ord. 2017-16, passed 5-25-17; Am. Ord. 2018-05, passed 3-8-18; Am. Ord. 2021-09, passed 3-11-21; Am. Ord. 2022-09, passed 4-14-22)