(A) Re-establishment. The Town Council hereby re-establishes the Cumulative Capital Development (CCD) Fund pursuant to I.C. 6-1.1-41, to be used for the purposes allowed and set forth in I.C. 36-9-15.5.
(B) Certified rate. The Town Council will adhere to the provisions of I.C. 36-6-15.5. The proposed fund will not exceed $0.0500 on each $100 of assessed valuation. Said tax rate will be levied beginning with taxes for 2019 payable 2020.
(C) Department of Local Government Fund approval. The Town Council shall provide proof of publication of the public hearing held on March 18, 2019, and a certified copy of this section, be submitted to the Department of Local Government Finance of the State of Indiana as provided by law. This CCD Fund is subject to the approval of the Department of Local Government Finance.
(Ord. 2011-03, passed 6-6-2011; Ord. 2016-10, passed 6-6-2016; Ord. 2019-04, passed 3-18-2019)