(A) The Lake County Council approves the action of the Park and Recreation Board of Lake County, Indiana in establishing the Cumulative Park Building Fund pursuant to I.C. 36-10-3-21.
(B) The Cumulative Park Building Fund, a non-reverting fund, is established for the deposit of funds collected by the tax levy pursuant to I.C. 6-1.1-41 to be used for the purpose as set out in I.C. 36-10-3-21.
(C) The Park and Recreation Board of Lake County, Indiana shall adhere to the provisions of I.C. 36-10-3-21.
(D) The proposed Fund shall not exceed $0.0167 on each $100.00 of assessed valuation. Said tax rate will be levied beginning with taxes for 2023 payable in 2024.
(E) Appropriations from the Fund shall be subject to approval by the Lake County Council, or as otherwise provided by law.
(F) Any money remaining in the fund at the end of the year shall not revert to the General Fund but continue in the Cumulative Park Building Fund, subject to appropriation by the Lake County Council, or as otherwise provided by law.
(Ord.1482B, passed 4-11-2023)