HomeMy Public PortalAbout01.5 - 2022-1 - CCD FUND ORDINANCE 2022-1
ORDINANCE RE-ESTABLISHING CUMULATIVE CAPITAL DEVELOPMENT FUND
Under I.C.36-9-15.5
WHEREAS,the City of Greencastle is authorized,pursuant to I.C. 36-9-15.5,to provide for a Cumulative Capital
Development Fund for the purposes set out in I.C. 36-9-15.5-2, including the construction and maintenance of
public ways and sidewalks,purchase of equipment and other purposes allowed by law;
WHEREAS,the City of Greencastle established such a fund in May, 1985 through Common Council Ordinance No.
1985-4,and re-established the same fund under Ordinance 1987-10,and Ordinance 1991-12, setting the tax to be
levied in an amount not to exceed$0.15 per$100.00 of assessed valuation. The Common Council re-established the
fund in Resolution 2009-6 and 2015-3, setting the tax to be levied at a rate of$.05 per$100.00 of assessed value;
WHEREAS,the Common Council of the City of Greencastle wishes to re-establish the fund at the rate of$.05 per
$100.00 of assessed valuation.
NOW,THEREFORE,BE IT ORDAINED by the Common Council of the ity of Greencastle, Putnam County,
Indiana that a need now exists for the re-establishment of a Cumulative Capital Development Fund for any and all
purposes and uses set out in I.C. 36-9-15.5-2.
BE IT FURTHER ORDAINED that the Common Council of the City of Greencastle will adhere to the provisions of
Indiana Code 36-9-15.5. The fund will not exceed$.05 on each$100.00 of assessed valuation. Said tax rate will be
levied beginning with taxes for 2022 payable 2023.
BE IT FURTHER ORDAINED that proofs of publication of the public hearing held on the 14th day of April 2022,
and a certified copy of this Ordinance be submitted to the Department of Local Government Finance of the state of
Indiana as provided by law. Said Cumulative Fund is subject to the approval of the Department of Local
Government Finance.
This Ordinance shall have full force and effect upon passage of the Greencastl Common Council and its approval by the
Mayor.
PASSED AND ADOPTED by the Common Council of the City of Greencastle,Indiana this 14th day of April,
2022.
Mark N.Hammer Ada ohen
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Stacie Langdon I. e Murray ilikil"f
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er cer ca Pejri Cody E ert
Darrell Thomas
Approved and signed by me this (1-1+4\ day of I\p t L ,2022, .t o'clock .m.
William A. I ory,Mayor
ATTEST:
Ly a Dunbar,Clerk-Treasurer