(A) A Cumulative Sewer Fund is now established for the town pursuant to IC 36-9-26-2.
(B) An ad valorem property tax will be imposed for the fund in the amount of $1 of each $100 assessed valuation, and the revenues from the levy shall be retained in the fund and not revert to the general fund.
(C) Pursuant to IC 36-9-26-4, a tax of $1 on each $100 of assessed valuation of all taxable personal and real property within the town shall be levied annually for the next ten years commencing in the year 1999, first payable in the year 2000.
(D) The funds accumulated in the fund may be used for any and all lawful purposes permitted under IC 36-9-26-2 or any other law.
(Ord. 1997-21, passed 12-8-97; Am. Ord. 2000-3, passed 3-12-00)
Cross-reference:
Fee schedule, see § 11.053