(A) The town hereby adopts the following Capital Improvement Plan which will use the CEDIT revenue deposited into the town’s Cumulative Capital Development Fund for uses permitted by I.C. 6-3.5-7-13.1, I.C. 6-3.5-7-13.5 and I.C. 6-3.5-7-13.6, as amended from time to time, more fully described as follows: The town will use county economic development income tax revenues for any of the following:
(1) As matching funds in grant applications as such opportunities become available;
(2) For any lawful purpose for which money in any of the town’s other funds may be used, pursuant to I.C. 6-3.5-7-13.1(b)(3).
(B) The Capital Improvement Plan shall have a term of 20 years from date of passage, until 2029, unless earlier amended or repealed.
(C) The town will use county economic development income tax revenues for any of the following:
(1) As matching funds in grant applications as such opportunities become available; or
(2) For any lawful purpose for which money in any of the town’s other funds may be used, pursuant to I.C. 6-3.5-7-13.1(b)(3).
(Ord. 2009-11, passed 11-9-2009)
Editor’s note:
I.C. 6-3.5-7-13.1, I.C. 6-3.5-7-13.5 and I.C. 6-3.5-7-13.6 were repealed by 2015 Public Law 243, § 8.