(A) The funds accumulated in the Cumulative Capital Development Fund shall be used for all purposes authorized and described in I.C. 36-8-14, 36-9-16-2, 36-9-16-3, 36-9-16.5, 36-9-17, 36-9-26, 36-10-3-21 and 36-10-4-36.
(B) Notwithstanding division (A) above, funds accumulated in the Cumulative Capital Development Fund may be spent for purposes other than the purposes stated in division (A) above 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 Mayor of the city issues a declaration that the public health, welfare or safety is in immediate danger that requires the expenditure of money in said Fund.
(Prior Code, § 34.12) (Ord. 1984-9, passed 8-21-1984; Ord. 1985-3, passed 5-21-1985; Ord. 2004-8, passed 7-20-2004; Am. Ord. 2017-5, passed 6-7-2017)