§ 35.020 CAPITAL IMPROVEMENT FUND.
   (A)   Fund established; use.
      (1)   Pursuant to the provisions of I.C. 36-9-17, a fund known as the Capital Improvement Fund is established which shall be used to construct, repair, or improve streets, alleys, sidewalks, curbs, gutters, and sewers.
      (2)   Other uses of the Fund shall be to:
         (a)   Design, develop, purchase, lease, upgrade, maintain, or repair computer equipment, software, networks, and access systems;
         (b)   Pay for the services of computer maintenance employees;
         (c)   Conduct in-service technology training; and
         (d)   Undertake internet application development.
(2003 Code, § 3.04.010)
   (B)   Sources. The Fund shall consist of the following: the cigarette taxes allotted to the city by reason of subsection C(1)(C) of §§ 27C and 27D of the Indiana Cigarette Tax Law, being Chapter 222 of the Acts of 1947, as amended, shall be deposited in the Fund. Said Fund shall be a cumulative fund and all of the monies deposited into said Fund shall be appropriated and used solely for capital improvements as hereinafter defined and none of such monies shall revert to the General Fund or be used for any purposes other than capital improvements.
(2003 Code, § 3.04.020)
   (C)   Tax levy designated. To provide for the Capital Improvement Fund, the Common Council shall levy an annual tax on all taxable property within the city upon approval of the tax by the state’s Board of Tax Commissioners.
(2003 Code, § 3.04.030)
   (D)   Limitation on Fund.
      (1)   Notwithstanding any other provision of this chapter, the aggregate sum that may be appropriated and levied, under this chapter, including emergency appropriations as authorized by I.C. 36-9-17-5(b), may not exceed the equivalent of $0.50 on each $100 net taxable valuation of property in the city.
      (2)   CAPITAL IMPROVEMENTS means the construction or improvement of any property owned by the city including, but not limited to, streets, thoroughfares, and sewers and the retirement of general obligation bonds of the city issued, and the proceeds used for the purpose of constructing capital improvements. CAPITAL IMPROVEMENT shall not include salaries of any public officials or employees except those which are directly chargeable to a capital improvement.
(2003 Code, § 3.04.040)
   (E)   Disbursements. Disbursements may be made from the Capital Improvement Fund for any purpose only if benefits are to be:
      (1)   Assessed against the properties benefitted in the manner provided by the street and sewer improvement statutes of the state code; and
      (2)   Collected in the manner provided by law for the collection of Barrett Law assessments under I.C. 36-9-36 and 36-9-37, with all interest and penalties paid into the General Fund.
(2003 Code, § 3.04.050)
   (F)   Letting of contracts; assessments.
      (1)   Contracts for public improvements authorized by this chapter shall be let according to the state code provisions authorizing the city to make and finance public improvements.
      (2)   As soon as any contract for the construction of a public improvement under this chapter has been let, the city shall:
         (a)   Carefully compute the entire cost of the project, including payments made and to be made to the contractor, and all incidental costs, expenses, and damages paid and incurred according to law; and
         (b)   Prepare an assessment roll listing the assessments against the properties benefitted.
      (3)   In determining and fixing the amount of assessments the giving of notice of assessments, the holding of public hearings, and the making of final determinations, subject to the right of appeal from those determinations, the city is governed by the street improvement statutes of the state code.
(2003 Code, § 3.04.060)
   (G)   Payments.
      (1)   Assessments made under this chapter are liens on the properties benefitted from the time of the letting of the contract and shall be collected in the manner provided by law for the collection of Barrett Law assessments. However, the Common Council shall fix a period of not more than five years within which the assessments shall be paid. Any property owner liable for an assessment may elect to pay it in annual installments over the period of time fixed by the Council by executing a waiver in the manner provided by I.C. 36-9-37-8.5.
      (2)   All payments of the assessments and all payments made by the city for public improvements under this chapter shall be made into the General Improvement Fund.
(2003 Code, § 3.04.070)
(Ord. 186, passed 7-6-1965; Ord. 2002-1, passed 5-13-2002)