HomeMy Public PortalAbout06-2009-6 RESOLUTION 2009-bSCANNED
410 RESOLUTION 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 or sidewalks;
WHEREAS, the City of Greencastle established such a fund in May, 1985 through Common Council Ordinance
No. 1985-4, and re-establishing the same fund under Ordinance 1987-10 and 1991-12, setting the tax to be levied
in an amount not to exceed$0.15 per$100.00 of assessed valuation;
WHEREAS, the Common Council of the City of Greencastle wishes to re-establish the fund at the rate of$.05 per
$100.00 of assessed valuation.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of Greencastle, Putnam County,
Indiana that a need now exists for the re-establishment of a Cumulative Capital Development Fund for any and all
purposes and uses set out in I.C. 36-9-15.5-2.
BE IT FURTHER RESOLVED that the Common Council of the City of Greencastle will adhere to the provisions
of Indiana Code 36-9-15.5. The fund will not exceed$.05 on each$100.00 of assessed valuation. Said tax rate
will be levied beginning with taxes for 2009 payable 2010.
BE IT FURTHER RESOLVED that proofs of publication of the public hearing held on the 14th day of July 2009,
and a certified copy of the resolution 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.
•
PASSED AN` RESOLVED by the Common Council of the City of Greencastle at its regular meeting this Ut k day of �:�.�, 2109.
C l MON OUNCIL OF THE CITY OF GREENCASTLE, INDIANA
AYE
Adam C hen T Smith
.41
rk ammer ohn Lanie
Virg' a S. Bingham
Approved and signed by me this'tilt‘day o , 2009 at- `, o'clockn.
Susan . Murray, Mayor:
Attest:
Teresa Glenn, Clerk-Treasurer