(A) There was previously established a Fishers Cumulative Capital Development Fund.
(B) An ad valorem property tax levy was imposed and the revenues from the levy will be retained in the Fund.
(C) The maximum rate of levy under division (B) did not exceed $0.05 per $100 assessed valuation.
(D) The Fund was re-established for the years 2021 and 2022.
(E) The Fund shall be utilized for all purposes prescribed in IC 36-9-15.5.
(F) Notwithstanding division (E), funds accumulated in the 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 Mayor issues a declaration that the public health, welfare or safety is in immediate danger that requires the expenditure of money in the Fund.
(Ord. 10-4-65; Ord. 8-20-84-A, passed 10-1-84; Ord. 08-19-87, passed 9-2-87; Am. Ord. 080890, passed 8-8-90; Am. Ord. 070793, passed 7-21- 93; Am. Ord. 091514A, passed 11-17-14; Am. Res. R031819A, passed 3- 18-19; Am. Res. R032320A, passed 3-23-20; Am. Res. R031521D, passed 3-15-21; Am. Res. R041822A, passed 4-18-22)