(A) Re-established. There is re-established a Cumulative Capital Development Fund.
(Prior Code, § 43.185)
(B) Tax levy. An ad valorem property tax levy will be imposed and the revenues from the levy will be retained in the Cumulative Capital Development Fund.
(Prior Code, § 43.186)
(C) Maximum rate of tax levy. The maximum rate of levy under division (B) above will not exceed the below amounts, or in amounts as set by the city from time to time:
(1) Twelve cents per $100 assessed valuation for 1994;
(2) Twelve cents per $100 assessed valuation for 1995; and
(3) Twelve cents per $100 assessed valuation for 1996.
(Prior Code, § 43.187)
(D) Re-established for certain years. The Cumulative Capital Development Fund is reestablished for the years 1994, 1995, and 1996.
(Prior Code, § 43.188)
(E) Designated uses.
(1) The funds accumulated in the Cumulative Capital Development Fund will be used for:
(a) Cumulative firefighting building, equipment;
(b) Police Radio and Motor Fund;
(c) Cumulative Transportation Fund— buses;
(d) Cumulative Building Fund;
(e) Cumulative Capital Improvement Fund;
(f) Cumulative Street Fund;
(g) General Improvement Fund;
(h) Cumulative Building Fund—sewers;
(i) Cumulative Drainage Fund;
(j) Cumulative Building Fund—parks; and
(k) Cumulative Sinking and Building Fund—parks.
(2) These funds are authorized under the authority of I.C. 8-16-3, 8-22-3-25, 13-2-31-26, 13-3-3-89, 16-12.2-5-32, 36-8-14, 36-9-4-48, 36-9-16-2, 36-9-16-3, 36-9-16.5, 36-9-17, 36-9-26, 36-9-27-100, 36-10-3-21, and 36-10-4-36.
(Prior Code, § 43.189)
(F) Other uses. Notwithstanding division (E) above, funds accumulated in the City Cumulative Capital Development Fund may be spent for purposes other than the purposes stated in division (E) 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 issues a declaration that the public health, welfare, or safety is in immediate danger that requires the expenditure of money in the Fund.
(Prior Code, § 43.190)
(Ord. 3382, passed - -1984; Ord. 0-93-0011, passed - -1993)