(A) The Common Council finds that a need now exists for the establishment of a Cumulative Capital Development Fund for all uses as set out in I.C. 36-9-15.5.
(B) The Common Council hereby establishes a Cumulative Capital Development Fund.
(C) The Common 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. This tax rate will be levied beginning with taxes for 2021 payable 2022.
(Ord. 13-2718, passed 7-15-13; Am. Ord. 17- 2742, passed 7-21-14; Am. Ord. 16-2788, passed 5-2-16; Am. Ord. 20-2875, passed 3-2-20; Am. Ord. 21-2897, passed 2-15-21)