HomeMy Public PortalAbout1995-4® RESOLUTION NO. 1995-4
A RESOLUTION TO RE- ESTABLISH
A CUMULATIVE CAPITAL DEVELOPMENT FUND
WHEREAS, the Common Councl of the City of Greencastle by Ordinance No. 1985 -4, dated May 14,
1985, established a Cumulative Capital Development Fund pursuant to I.C. 36- 9- 15.5 -1; and
WHEREA& the maximum rate of levy established by Ordinance No. 1985 -1 was Four Cents ($.04) oar
hundred dollars ($100.00) assessed valuation for 1986: Eight Cents ($.08) per hundred dollars ($100.00)
assessed valuation for 1987, and ($.12) per hundred dollars ($100.00) assessed valuation for 1988: and
WHEREAS, the Common Council re- stablished the Cumulative Cacital Development Fund by
Resolution No. 1988 -34 with a maximum rate of levy of Fifteen Cents ($.15) per hundred dollars ($100.00)
assessed valuation and again by Resolution No. 1991 -12 at the maximum rate of (5.15) per hundred collars
($100.00) assessed valuation; and
WHEREAS, the Common Council of the City of Greencastle finds that such a fund is necessary and
prudent for the financial well being of the municpality.
NOW THEREFORE, 9E IT RESOLVED by the Common Council of the City of Greencastle. Putnam
County, Indiana, as follows
SECTION 1. That :here is hereby re- established the City of Greencastle Cumulative Capital
Development Fund.
® SECTICN 2. That an ad valorem property tax levy will be imposed and the revenues from the levy
will be retained in the City of Greencastle Cumulative Capital Development Fund.
SECTION 3. That the maximum rate of levy under SECTION 2 will not exceed Fifteen Cents (5.15)
per One Hundred Dollars (5100.00) Assessed Valuation.
SECTION A. T hat the City of Greencastle Cumulative Capital Development Fund is re- astablish,ee
for the years 1995, 1996 and 1997.
SECTICN 5. 1 the funds accumulated in the City of Greencastle Cumulative Capital Development
Fund will be used for capital imorovements as described in I. C. 36- 9 -16 -2, as follows
(1) To purchase. construct. =-auto and maintain buildings for public purposes.
(2) To acquire the land, and any improvements on it, that are necessary for the construction of
public buildings.
(3) To demolish any improvements an land acquired under this section, and to level grade. and
prepare the land for construction of a public building.
(4) To acquire land or rights -of way to be used as a public way or means of ingress or egress to
land acquired for the construction of a public building.
(5) To improve or construct any puolic way or other means of ingress or egress to land acquired
for the construction of a public building.
or as described in I. C. 36- 9 -16 -3, as follows
(1) To acquire land or rights -of -way to be used for public ways or sidewalks.
(2) To construct and maintain public ways or sidewalks.
(3) To acquire land or rights -of -way for the construction of sanitary sewers or storm sewers. or
® both.
(4) To construct and maintain sanitary sewers or sterin sewers. or both.
or. as follows
0
(7) To purchase or acquire land, with or without buildings, for nark or recreational purposes.
(8) To purchase, lease, or pay all or part of the purchase price of motor vehicles for the use of the
police or fire department. or both, including ambulances and firefighting vehicles with the
necessary equipment, lacders and hoses.
(9) To retire in whole or in part any general obligation bonds of the unit that were issued for the
purpose of acquiring or constructing improvements or properties that would qualify for the use
of cumulative capital improvement funds.
(10) To purchase or lease eauipment and other nonconsumable personal property needed by the
unit for any transportation use.
SECTION 6. Notwithstanding SECTION 5. funds accumulated in the City of Greencastle Cumulative
Capital Develooment Funa may be spent for the purpose other than the Purposes stated in SECTION 5, if the
purpose is to protect the public health. welfare or safety in an emergency situation which cemancs immeciate
action. Money may be spent under the authority of this section only after the Mayor or Council President issues
a declaration that the public health, welfare or safety is in immeciate danger that requires 'he exoenditure of
money in the fund.
SECTION 7. This fund takes effect upon aocrcvai of the State Board of Tax Commissioners.
PASSED AND RESOLVED by the Common Councl of the City of Greencastle this 1 4th Gay of March.
e 1995.
COMMON COUNCIL Cr - THE C; ! OF GRE= NCASTLE
Thomas `N. Roach Chanes T. Miles
r
__;e21a D. Caibert ^\ ` Micnael IN. Rokicm
Susan V. Murray
,approved and signed by me this day of
o'clock ,l% 'm.
I
Micnael M. Ha Mayor
ATTEST:
Judith Berry, CMC, Clerx- TreasureC
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