(A) Establishment and use.
(1) Pursuant to the provisions of I.C. 36-8-14, a fund known as the Building or Remodeling, Firefighting and Police Radio Equipment Fund is established.
(2) The Fund shall be used only for the purchase of, construction of, renovation of or addition to buildings used by the Fire Department and for the purchase of firefighting equipment and police radio equipment.
(Prior Code, § 3.08.010)
(B) Tax levy.
(1) To provide for the Cumulative Building and Equipment Fund, the City Common Council shall levy an annual tax on all taxable property within the city upon approval of the tax by the State Board of Tax Commissioners, as provided by I.C. 36-8-14.
(2) The tax rate may not exceed $0.10 on each $100 of assessed valuation of property in the city.
(Prior Code, § 3.08.020)