(A) There is hereby re-established the Town Cumulative Firefighting, Building, and Equipment Fund.
(B) An ad valorem property tax levy will be imposed and the revenues from the levy will be retained in the Town Cumulative Firefighting, Building, and Equipment Fund.
(C) The maximum rate of levy under division (B) above will not exceed $0.333 per $100 assessed valuation and in accordance with I.C. 36-8-14-4.
(D) The Town Cumulative Firefighting, Building, and Equipment Fund is re-established until that time as the Fund is rescinded.
(E) The funds accumulated in the Town Cumulative Firefighting, Building, and Equipment Fund will be used for the purchase of fire trucks, equipment, and buildings pursuant of I.C. 36-8-14.
(F) Notwithstanding division (E) above, funds accumulated in the Town Cumulative Firefighting, Building, and Equipment Fund may be spent for purposes other than the purposes stated in division (E), 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 division only after the Town Council President issues a declaration that the public health, welfare, or safety is in immediate danger that requires the expenditure of money in the Fund.
(G) This Fund takes effect upon approval of the Department of Local Government Finance.
(Ord. 02-15, passed 7-22-2002)