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Home My Public Portal About021-1994 - APPROPRIATION ORDINANCE AMENDING THE 1994 BUDGET - EORDINANCE NO. 2.1-1994 AN APPROPRIATION ORDINANCE AMENDING THE 1994 BUDGET WHEREAS Common Council of the City of Richmond, Indiana, adopted a budget for calendar year 1994, and WHEREAS the City of Richmond entered into the attached agreement which designated the Wayne County Economic Development Income Tax Fund under the direct control of the Board of Commissioners of Wayne County, Indiana, as the recipient of one-half of the certified distribution of economic development income tax due the City of Richmond, and WHEREAS the 1994 City budget was prepared using the anticipated total distribution of said tax as income to the City, and WHEREAS it is desirable to remove the underfunded apppropriadon from the 1994 budget. NOW, THEREFORE, be it ordained by the Common Council of the City of Richmond, Indiana, that the 1994 budget be amended as follows: EDIT FUND Delete $366,551.00 from Other Contract Services No. 245-45-450-4501-3-3990 2. Add $6.00 to Street Improvements No. 245-45-450-4501-4-4330 Passed and adopted this 21 st day of March, 1994, by th mmon Council of the City of Richmond, Indiana. residers t V�j Larr arker) ATTES ,City Clerk orma Carnes) PRESENTED to the Mayor of the Cit of Richmond, Indiana, this 22nd day of March, 1994, at 9:00 a.m. ` U�-vvv, A City Clerk (Norma Carnes) APPROVED by me, Roger Cornett, Mayor o Cit Richmond, Indiana, this 22nd day of March, 1994, at 9:00 a.m. ,Mayor IV .L er Cornett) ATTES ,City Clerk (orma Carnes) DESIGNATION OF WAYNE COUNTY AS RECIPIENT OF ONE-HALF OF FRACTIONAL AMOUNT OF CERTIFIED DISTRIBUTION OF ECONOMIC DEVELOPMENT INCOME TAX FUNDS This Agreement entered into by and between the City of Richmond, Indiana (hereinafter referred to as "Unit"), the Board of Commissioners of Wayne County, Indiana (hereinafter referred to as "Commissioners") and County Council of Wayne County, Indiana (hereinafter referred to as "Council"). WITNESSETH: WHEREAS, there is a pending proposal before the Council to adopt an ordi- nance to impose a county economic development income tax ("E.D.I.T.") on the adjusted gross income of county taxpayers pursuant to the provisions of T.C. 6-3.5-7-1 et seq.; and, WHEREAS, in the event the proposed ordinance which imposes the E.D.I.T. tax is adopted, Unit will be entitled to receive a fractional amount of a certified distribution of E.D.I.T. funds; and, WHEREAS, Council, Commissioners and Unit desire under all circumstances to provide for a county wide economic development program including the common. expenditure of funds derived from the certified distribution of E:D.I.T. funds to promote and sustain economic growth in Wayne,County; and, WHEREAS, Council and Unit desire and agree that in the event the proposed ordinance is adopted, that at least one-half (1/2) of the E.D.I.T. funds dis- tributed to the respective taxing units in Wayne County be consolidated to ena- ble Commissioners to implement an economic growth program upon a county wide basis and of greater magnitude by reason of such consolidation of funds; and, WHEREAS, Council, Commissioners and Unit further desire to provide Council the ability to utilize funds from the various units within Wayne County for con- tract payments to a not -for -profit corporation whose primary corporate purpose is to assist government in planning and implementing economic development pro- jects pursuant to I.C. 6-3.5-7-13.1. NOW THEREFORE, in consideration of the mutual promises and covenants herein contained, the parties hereto agree as follows: 1. In the event Council adopts the proposed ordinance which imposes an economic development income tax upon the county taxpayer, then Unit does hereby pursuant to I.C. 6-3.5-7-15(a)2 designate Commissioners (Wayne County Executive) as the recipient of one- half (1/2) of its share of each and every certified distribution of E.D.I.T. funds which Unit would be entitled to receive by rea- son of the imposition of such tax and distribution of funds collected. 2. There shall be established the Wayne County Economic Development Income Tax Fund. 3. Unit authorizes the Auditor and Treasurer of Wayne County, Indiana, respectively, to confirm such designation by the deposit of such one-half (1/2) of the share of the certified distribution due Unit to the Wayne County Economic Development Income Tax Fund to be under the direct control of Commissioners and Unit confirms the County Treasurer shall transfer such share directly to Commissioners as provided by I.C. 6-3.5-7-15(b). 4. Commissioners agree to utilize the funds received by reason of this designation in conjunction with all other E.D.I.T. funds so designated by other taxing units in Wayne County t-o implement an economic growth program upon a county wide basis in conformity with the E.D.I.T. statutes of the State of Indiana. 5. Council shall assume by the execution of this designation that Unit favors the adoption of an ordinance which imposes an economic development income tax upon the taxpayers of Wayne County. - 2 - 6. Upon the adoption of a capital improvement plan in conformity with I.C. 6-3.5-7-15 Unit shall be eligible to receive the remaining one-half (1/2) of its share of any certified distribution of E.D.I.T. funds and further Unit agrees not to create any obliga- tion and pledge such E.D.I.T. funds for payment of the obligation beyond December 31, 1996 without written consent of Commissioners with such limitation to include but not be limited to leases, maintenance agreements, bonds and any comparable creation of financial obligation. 7. Unit agrees not to retire and/or issue bonds for economic develop- ment projects which are to be payable from the Economic Development Income Tax Funds and further not to use its fractional amount of the certified distribution of the E.D.I.T. funds for any general capital project, whether through direct construction, retirement of bonds or the payment of lease rentals, which is not directly related to a specific economic development project as that term is defined within I.C. 6-3.5-7-14. The parties hereto recognize and agree that this limitation is more restrictive than the uses generally allowed by the provisions of I.C. 6-3.5-7-13.1 and I.C. 6-3.5-7-14. B. This agreement shall become binding in the event of adoption of the proposed ordinance by Council and shall remain in full force and effect so long as a certified distribution of E.D.I.T. funds continues in Wayne County, Indiana. 9. The undersigned represent that they have full authorization to execute this agreement in order to bind Council, Commissioners and Unit to the terms hereof. This Agreement shall be binding upon - 3 - the parties, their agents, successors and assigns. This Agreement shall be controlled and construed pursuant to Indiana law and it shalt not be modified except by written instrument signed by all parties. IN WITNESS WHEREOF, the duly authorized undersigned have hereunto set their hands and seals for and on behalf of the respective parties this day of March, 1993. WAYNE COUNTY COUNCIL CIT /Paul Banding —,President � WAYNE COUNTY COMMISSIONERS By: /�)� Ray W ng, President - 4 - CITY OF RICHMOND DEPARTMENT OF LAW 50 North 5th Street Richmond, Indiana 47374 Phone (317) 983-7220 Fax (317) 966-2255 March 14, 1994 Common Council Richmond, 1N 47374 RE: Ordinance 21-1994 Dear Council Member: ROGER CORNETT Mayor THOMAS S. MILLIGAN City Attorney The above referenced ordinance is required to accurately reflect the appropriation of income the City will receive from the distribution of the Economic Development Income Tax (EDIT) in 1994. The agreement entered into by the City was imposed as a condition precedent to passage of the EDIT by County Council. The ordinance can be passed with all three readings in a single meeting upon suspension of rules to advance to second and third readings. Sincerely yours, Thomas S. Milligan City Attorney Enclosure TSM /ags DISPOSITION OF ORDINANCE NO.2a! -199i RESOLUTION NO. by Common Council Ordinance No.� Resolution No. _ Elstro Lundy Brookbank Donat McBride Parker Dickman Allen Hutton D ale � Z l Ci Susp. rules Ist read Title only ------ ------ ---------- ----- -------- Seconded ---•---- , Proof of Publicaton Seconded Move to2nd-read -_ ..--- --------.... --_ -----• ...... - ---- - Seconded Engrossment �✓ --•--- ------ ----•-----•----• ----- Seconded................................ .._ Susp rules 3rd read e/ Seconded Passage i/ '� '� ✓ --` ---- - V.-- ... ------ 1-0 R..................... .....-- ----- Rejection Date Passed comMlTf'EE Ass{ ME S: Committee Data Commitee Hearing Date Reassigned to Council Agenda PUBLICATION DATES: AMENDMENTS: COMMENTS: