§ 35.33  CUMULATIVE CAPITAL DEVELOPMENT FUND.
   (A)   There is hereby established the City of Vincennes Cumulative Capital Development Fund.
   (B)   An ad valorem property tax levy will be imposed and the revenues from the levy will be retained in the Vincennes Cumulative Capital Development Fund.
   (C)   The City of Vincennes Cumulative Capital Development Fund shall be used in accordance with the provisions of I.C. 36-9-15.5 et seq. and all other provisions of law.  The city shall adhere to all related provisions of the Indiana Code.
   (D)   Notwithstanding division (C), funds accumulated in the Vincennes Cumulative Capital Development Fund may be spent for purposes other the purposes stated in division (C), if the purpose is to protect the public health, welfare or safety in an emergency situation which demands immediate action. Money may be spent under the authority of this section only after the Mayor issues a declaration that the public health, welfare or safety is in immediate danger that requires the expenditure of money in the fund.  CCD Fund monies may be used for roads, sidewalks, sewers, and bridges among other things.
   (E)   This fund takes effect upon approval of the Department of Local Government Finance.
(Ord. 11-96, passed 4-23-96; Am. Ord. 14-2013, passed 7-29-13)