(A) The Town Council hereby reestablishes a Cumulative Capital Development Fund which is to be used for any lawful purpose set forth in I.C. 36-9-15.5.
(B) The Town Council will adhere to the provisions of I.C. 36-9-15.5 and the proposed tax rate for said fund will not exceed the highest rate of levy allowed by Indiana law.
(Ord. 051513, passed 6-1-2013; Am. Ord. 032118, passed 3-21-2018; Am. Ord. 402022, passed 4-20-2022; Am. Ord. 080223, passed 8-2-2023)