(A) There is hereby established the Cumulative Capital Development Fund for the purposes of 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 $0.05 on each $100 of assessed valuation. Said tax rate will be levied beginning with taxes for 2022 payable 2023.
(Ord. 10-2020, passed 3-23-2020; Ord. 11-2022, passed 3-8-2022)