Ordinance 1995-4

WHEREAS, IC 36-9-15.5 allows municipalities to establish and continue a Cumulative Capital Development Fund, and

WHEREAS, the Town Council of the Town of Millersburg, Elkhart County, Indiana, as the legislative body thereof, has published formal notice and conducted a public hearing as to the re-establishment of the Cumulative Capital Development Fund for the Town of Millersburg, arid

WHEREAS, said public hearing, which afforded the opportunity for public input and comment, was held at 4:00 o’clock p.m. on the 3rd day of April, 1995, and

WHEREAS, the notice as publi3hed relative to said public hearing presented a plan that described the tax levy that will be imposed for the Fund, the length of time during which the Town of Millersburg would plan to impose a property tax under IC 36-9-15.5 and the use the Town plans to make to the taxes so raised, should the Fund be re-established, and should such Fund and said taxes be approved by the Indiana State Board of Tax Commissioners, as also contemplated by statute;

NOW, THEREFORE BE IT ORDAINED by the Town Council of the Town of Millersburg as follows:

SECTION 1. That there is hereby re-established the Millersburg Cumulative Capital Development Fund.

SECTION 2. That an ad valorum property tax levy will be imposed and the revenues from the levy will be retained in the Millersburg Capital Development Fund.

SECTION 3. That the maximum rate of levy under SECTION 2 will not exceed $0.15 per $100 Assessed valuation.

SECTION 4. That the Millersburg Cumulative C Development Fund is re-established for the years 1995, 1996 and 1997

SECTION 5. That the funds accumulated in the Millersburg Capital Development Fund will be used for making repairs and additions to the Town Hall and other buildings owned by the Town; making repairs and resurfacing the streets and alleys of the Town and establishing and improving sidewalks; and developing and improving the parks, especially landscaping and needed structures at Cook Station Park, all as described in IC 36-9-16-2, IC 36-9-16 IC 36-9-17, IC 36-10-3-21 and IC 36-10-4-36.

SECTION 6. Notwithstanding SECTION 5, the funds accumulated in the Millersburg Cumulative Capital Development Fund may be spent for purposes 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 Town 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.

SECTION 7  This fund takes effect upon approval by the state board of tax commissioners.