(A) In accordance with the provisions of IC 6-7-1-31.1, the Town Council, fiscal body of the town, hereby establishes a cumulative capital Improvement Fund for the town, which is a special fund to be known as the Cumulative Capital Improvement Fund. The monies to be deposited into the town Cumulative Capital Improvement Fund shall be from the sources identified within the statute. All monies deposited into the town Cumulative Capital Improvement Fund shall be used only as set forth hereinafter and shall not revert to the town general fund.
(B) The funds or monies deposited into the town Cumulative Capital Improvement Fund may only be used as follows, namely:
(1) To purchase land, easements, or rights-of-way;
(2) To purchase buildings;
(3) To construct or improve town-owned property;
(4) To design, develop, purchase, lease, upgrade, maintain, or repair:
(a) Computer hardware;
(b) Computer software;
(c) Wiring and computer networks; and
(d) Communications access systems used to connect with computer networks or electronic gateways;
(5) To pay for the services of full-time or part-time computer maintenance employees;
(6) To conduct nonrecurring in-service technology training of unit employees;
(7) To undertake Internet application development;
(8) To retire general obligation bonds issued by the town for one of the purposes stated in subdivision (1), (2), (3), (4), (5), or (6); or
(9) For any other governmental purpose for which money is appropriated by the fiscal body of the town.
(C) The money in the town’s Cumulative Capital Improvement Fund does not revert to its general fund. The town may at any time, by ordinance or resolution, transfer to its general fund or an authority established under IC 36-7-23 money derived under this section that has been deposited in the town’s Cumulative Capital Improvement Fund. Further, the funds or monies in the town Cumulative Capital Improvement Fund may be used for the following additional purposes pursuant to the provisions of IC 36-9-16-2, namely:
(1) To purchase, construct, equip, and maintain buildings for public purposes.
(2) To acquire the land, and any improvements on it, that are necessary for the construction of public buildings.
(3) To demolish any improvements on land acquired under this section, and to level, grade, and prepare the land for the construction of a public building.
(4) To acquire land or rights-of-way to be used as a public way or other means of ingress or egress to land acquired for the construction of a public building.
(5) To improve or construct any public way or other means of ingress or egress to land acquired for the construction of a public building.
(6) To purchase body armor, as defined in IC 35-47-5-13(a) for active members of the Police Department under the provisions of the following Indiana Code sections, namely:
(a) IC 36-5-7-7;
(b) IC 36-8-4-4.5;
(c) IC 36-8-9-9; and
(d) IC 36-8-10-4.5.
(D) The Town Council, as fiscal body of the town, may at any time, by ordinance or resolution, transfer funds held or deposited in the town Cumulative Capital Improvement Fund to its town general fund, or to an authority established under the provisions of IC 36-7-23, which funds have been deposited into said town Cumulative Capital Improvement Fund in conformance with applicable law.
(Ord. 394, passed 8-22-84; Am. Ord. 1095, passed 8-17-10)