HomeMy Public PortalAbout012-2009 - Re-establishes Cumulative Capital Development FundORDINANCE NO. 12-2009
AN ORDINANCE RE-ESTABLISHING THE CITY OF RICHMOND
CUMULATIVE CAPITAL DEVELOPMENT FUND
WHEREAS, the City of Richmond, Indiana accepted and passed Ordinance 72-1984
establishing the Richmond Cumulative Capital Development Fund, and;
WHEREAS, Indiana Code 36-9-15.5 allows municipalities to establish and continue a
Cumulative Capital Development Fund, and;
WHEREAS, the City of Richmond finds that such a fund is necessary and prudent for the
financial well being of the municipality, and;
NOW, THEREFORE, be it ordained by the Common Council of the City of Richmond, Indiana, as
follows:
1. That the City of Richmond hereby re-establishes the Cumulative Capital
Development Fund beginning in the year 2010.
2. The ad valorem property tax levy will continue with the revenues from the levy
being retained in the City of Richmond Cumulative Capital Development Fund.
The maximum rate of levy under Section 2 will not exceed $.05 per $100 of
Assessed Valuation each year.
4. The Funds accumulated in the City of Richmond Cumulative Capital
Development Fund will be used for:
IC 8-16-3 The construction, maintenance and repair of bridges,
approaches and grade sections;
IC 36-8-14 The purchase, construction, renovation or addition to
buildings used by the fire department and for the purchase or
rental with option to purchase of police radio equipment;
IC 8-22-3-25 The acquisition of real property and the construction,
enlarging, improving, remodeling, repairing or equipping or
Buildings, structures, runways or other facilities for use in
connection with the airport operated by the City of Richmond;
IC 36-9-4-48 The acquisition of buses and the planning, establishment and
Maintenance of routes and schedules;
IC 36-9-16-2 The purchase, construction, equipment and maintenance of
buildings for municipal purposes, including the acquisition of
land and improvements thereon, the demolition of such
improvements and preparation of such land and the
acquisition, improvement or construction of land or rights -of -
way to be used for public ways to be used as a public way or
other means of ingress or egress to land acquired for the
construction of a municipal building;
IC 36-9-16.5 The acquisition of land or rights -of -way to be used for public
ways or sidewalks and the construction and maintenance of
public ways of sidewalks;
IC 36-9-16-3 The purchase of lease of land, buildings or rights -of -way for
the use of any utility acquired or operated by the City of
Richmond. The purchase or lease of motor vehicles for the
use of the police or fire department, including ambulances
and firefighting vehicles with the necessary equipment,
ladders and hoses. The purchase or lease of equipment
needed by the City of Richmond for any public transportation
use;
IC 36-10-3-21 The purchase or acquisition of land, with or without
buildings, for park or recreation purposes and the building,
remodeling and repair of park and recreation facilities;
IC 36-9-17 The construction, repair or improvement of streets, alleys,
sidewalks, curbs and gutters.
Notwithstanding Section 4 of this Ordinance, funds accumulated in the
Cumulative Capital Development Fund may be spent for purposes other than the
purposes stated in Section 4, 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.
6. This fund takes effect upon approval of the Department of Local Government
Finance.
Passed and adopted this _6th day of _April 2009, by the Common Council of the
City of Richmond, Indiana.
S/S Bruce Wissel President
(Bruce Wissel)
ATTEST: _S/S Karen Chasteen City Clerk
(Karen Chasteen)
PRESENTED to the Mayor of the City of Richmond, Indiana, this _8th _ day of _April
2009, at 10:00 a.m.
S/S Karen Chasteen City Clerk
(Karen Chasteen)
APPROVED by me, Sarah L. Hutton, Mayor of the City of Richmond, Indiana, this 8th
day of _April____, 2009, at 10:30 a.m.
_S/S Sarah L. Hutton Mayor
(Sarah L. Hutton)
ATTEST: _S/S Karen Chasteen City Clerk
(Karen Chasteen)