(A) The Council hereby finds that, pursuant to I.C. 6-3.6-7-17, there is a need to impose additional economic development income tax (EDIT) on the adjusted gross income tax of county taxpayers at the rate of 0.5% for the Project and to pay annual lease rentals due under a lease to be entered into with the Perry County Redevelopment Authority for the Project.
(B) The Council hereby imposes an additional county economic development income tax rate on county taxpayers of 0.5% (Additional EDIT). The Additional EDIT tax rate increase takes effect October 1, 2012.
(C) The Additional EDIT tax rate imposed in division (B) may only be imposed until the later of the year in which the financing described in the recitals above is completed or the year in which the lease entered into to finance the Project is fully paid.
(D) The County Auditor shall record all votes taken on this section and immediately send a certified
copy of the results by certified mail to the Indiana Department of Revenue.
(E) This section takes effect October 1, 2012.
(Ord. O-CC-12-1, passed 4-26-2012)