HomeMy Public PortalAbout08-1994-8 RESOLUTION NO. 1994-8
A RESOLUTION TO RE-ESTABLISH
A CUMULATIVE CAPITAL DEVELOPMENT FUND
WHEREAS, the Common Council 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
WHEREAS, the maximum rate of levy established by Ordinance No. 1985-4 was
Four Cents ($.04) per 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 ($100.00) assessed valuation for 1988; and
WHEREAS, the Common Council re-established the Cumulative Capital
Development Fund by Resolution No. 1988-34 with a maximum rate of levy of Fifteen
Cents ($.15) per hundred dollars ($100.00) assessed valuation and again by Resolution
No. 1991-12 at the maximum rate of ($.15) per hundred dollars ($100.00) assessed
valuation; and
WHEREAS, the Common Council of the City of Greencastle finds that such a fund
is necessary and prudent for the financial well being of the municipality.
NOW THEREFORE, BE IT RESOLVED by the Common Council of the City of
Greencastle, Putnam County, Indiana, as follows
SECTION 1. That there is hereby re-established the City of Greencastle
4 Cumulative Capital Development Fund.
SECTION 2. That an ad valorem property tax levy will be imposed and the
revenues from the levy will be retained in the City of Greencastle Cumulative Capital
Development Fund.
SECTION 3. That the maximum rate of levy under SECTION 2 will not exceed
Fifteen Cents ($.15) per One Hundred Dollars ($100.00) Assessed Valuation.
SECTION 4. That the City of Greencastle Cumulative Capital Development Fund
is re-established for the years 1994, 1995 and 1996.
SECTION 5. That the funds accumulated in the City of Greencastle Cumulative
Capital Development Fund will be used for capital improvements as described in I.C. 36-
9-16-2, as follows
(1) To purchase, construct, equip 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 on 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 public 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 storm sewers, or both.
or, as follows
(7) To purchase or acquire land, with or without buildings, for park 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, ladders
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 equipment 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 Development Fund 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 demands immediate 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 immediate danger that
requires the expenditure of money in the fund.
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SECTION 7. This fund takes effect upon approval of the State Board of Tax
Commissioners.
PASSED AND RESOLVED by the Common Council of the City of Greencastle this
12th day of April, 1994.
COMMON COUNCIL OF THE CITY OF GREENCASTLE
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Thomas W. Roach Charles T. Miles
D. Calbert ichael W. Rokicki
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Susan V. Murray
Approved and signed by me this 12th day of April, 1994 Z3 /L7ock
p.m.
Michael M. Harmless, Mayor
ATTEST:
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Judi.h Berry, ,CMC: Cler asurer
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