HomeMy WebLinkAbout2008-OR-90ORDINANCE NO. 2008-OR-~
An Ordinance Amending Ordinance No. 2007-OR-16,
An Ordinance Establishing Jeffersonville Economic Development
Abatement Non-Reverting Fund
WHEREAS, the Common Council for the City of Jeffersonville ("the Council")
has the statutory authority to consider and grant tax abatement requests and;
WHEREAS, I.C. 6-1.1-12-14 allows the Council to collect an annual fee for the
administration, monitoring, and collection of tax abatements granted by the Council for
the life of the tax abatement, and;
WHEREAS, the Council believes such fees are in the best interests of the
taxpayer; and;
WHEREAS, it is economically desirable to create such fund for the long term
funding for economic development projects; and
NOW THEREFORE BE IT ORDAINED by the Common Council of the City
of Jeffersonville, Indiana, as follows:
1. That an Economic Development Abatement Non-Reverting Fund be
established for the purpose of funding economic development projects
2. The fund shall be entitled "Jeffersonville Economic Development
Abatement Non-Reverting Fund".
3. The monies may be expended from the fund only upon the filing of a
proper claim in issuance of a warrant for payment by the Clerk
Treasurer after appropriation by the City Council except the monies in
the said non-reverting fund shall be solely expended for the funding of
economic development projects.
4. That the funds are hereby required to be used to the extent and in the
manner allowed by.
This Ordinance shall be in full force and effect from and after its passage and approval.
Passed this ~ ~~ day of .~'1 ~ v~c~r'' , 200 .
~~ ~
T mas Galligan, es'd' g Officer
ATTEST:
~~, ~ ~~
Peg y Vilder
Clerk and Treasurer
Presented by me as Clerk and Treasurer to the Mayor of said City of Jeffersonville
this C>~'~' day of _, 200'.
~~
Peg ilder
Clerk and Treasurer
This Ordinance approved and signed by me this ~- day of , 200
~ Z
homas Galligan, ay r