(A) Pursuant to I.C. 36-9-15.5 et seq., authorizes the creation of a Cumulative Capital Development Fund for all uses as set out and referenced in I.C. 36-9-15.5-2.
(B) The city shall abide by the provisions as set out therein and the proposed Fund shall not exceed $0.05 on each $100, within purview of Council to modify if desired, of assessed valuation. Said tax rate will be levied beginning with taxes for 2011 payable 2012.
(Prior Code, § 2-372) (Ord. 08-14, passed 7-14-2008; Ord. 11-10, passed 7-12-2011)