(A) A need now exists for the re-establishment of the Cumulative Capital Development Fund for the following purposes: for all uses as set out in I.C. 36-9-15.5.
(B) The Council will adhere to the provisions of I.C. 36-9-15.5. The proposed fund will not exceed $.0500 on each $100 of assessed valuation. Said tax rate will be levied beginning with taxes for 2010 payable 2011.
(Ord. 2010-1647, passed 7-19-2010)