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A. There is reestablished a Columbus cumulative capital development fund.
B. An ad valorem property tax levy will be imposed and the revenues from that levy will be retained in the Columbus cumulative capital development fund.
C. The maximum rate of levy pursuant to subsection B of this section will not exceed:
1. Fifteen cents per one hundred dollars assessed valuation for 1994;
2. Fifteen cents per one hundred dollars assessed valuation for 1995;
3. Fifteen cents per one hundred dollars assessed valuation for 1996.
D. The Columbus cumulative capital development fund is reestablished for the years 1994, 1995 and 1996.
E. The funds accumulated in the Columbus cumulative capital development fund will be used for the purposes authorized by Indiana Code, 36-9-16-2 and Indiana Code, 36-9-16-3 which establish the following appropriate expenditures for said fund:
1. To purchase, construct, equip and maintain buildings for municipal purposes;
2. To acquire the land, and any improvements on it, that are necessary for the construction of municipal 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 municipal 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 municipal building;
5. To improve or construct any public way or other means of ingress or egress to land acquired for the construction of a municipal building;
6. To acquire land or rights-of-way to be used for public way or sidewalk;
7. To construct and maintain public ways or sidewalks;
8. To acquire land or rights-of-way for the construction of sanitary or storm sewers, or both;
9. To construct and maintain sanitary or storm sewers, or both;
10. To acquire, by purchase or lease, or to pay all or part of the purchase price of a utility;
11. To purchase or lease land, buildings or rights-of-way for the use of any utility that is acquired or operated by the municipality;
12. To purchase or acquire land, with or without buildings for park or recreation purposes;
13. To purchase, lease or pay all or part of the purchase price of motor vehicles for the use of the police or fire department, or both, including ambulances and firefighting vehicles with the necessary equipment, ladders and hoses;
14. To retire in whole or in part any general obligation bonds of the municipality that were issued for the purpose of acquiring of construction improvements or properties that would qualify for the use of cumulative capital improvement funds;
15. To purchase or lease equipment and other nonconsumable personal property needed by the municipality for any public transportation use.
F. Notwithstanding subsection E of this section, funds accumulated in the Columbus cumulative capital development fund may be spent for purposes other than the purposes stated in said subsection, if the purpose is to protect the public health, welfare or safety in an emergency situation which demands immediate action. Money may be spent under the authority of this section only after the city executive issues a declaration that the public health, welfare or safety is in immediate danger that requires the expenditure of money in the fund. (Ord. 93-31 §§ 1 — 6, 1993: Ord. 90-25 §§ 1 — 5, 1990; Ord. 89-76 §§ 1 — 4, 1989: prior code § 7-14)