(A) Creation of Fund. There is created a special fund to be known as the “Cumulative Capital Improvement Fund” of the city into which the cigarette taxes allotted to the city be reason of I.C. 6-7-1-30.1, together with such other funds as may be from time to time allocated by the Common Council, shall be deposited. The Fund shall be cumulative, all of moneys deposited into it shall be appropriated and used solely for capital improvements as defined in division (B) below, and none of the moneys shall revert to the General Fund or be used for any purpose other than capital improvements.
(Prior Code, § 33.01)
(B) “Capital improvements” defined. The term CAPITAL IMPROVEMENTS shall include the authority to do each of the following:
(1) Purchase land, easements or rights-of- way;
(2) Purchase buildings;
(3) Construct or improve city owned property;
(4) Design, develop, purchase, lease, upgrade, maintain or repair:
(a) Computer hardware;
(b) Computer software;
(c) Wiring and computer networks; and
(d) Communications access systems used to connect with computer networks or electronic gateways.
(5) Pay for the services of full-time or part- time computer maintenance employees;
(6) Conduct non-recurring in-service technology training of unit employees;
(7) Undertake Internet application development; or
(8) Retire general obligation bonds issued by the city for one of the purposes stated in divisions (B)(1), (B)(2), (B)(3), (B)(4), (B)(5) or (B)(6) above.
(Prior Code, § 33.02)
(C) Authority for expenditure of capital funds. Funds deposited in the Cumulative Capital Improvement Fund may be transferred to the General Fund or expended only by ordinance or resolution of the Common Council.
(Prior Code, § 33.03)
(Ord. G-7-65, passed 7-13-1965; Ord. G-90-27, passed 1-8-1991; Ord. G-02-14, passed 9-10-2002; Ord. G-16-10, passed 12-27-2016)