HomeMy WebLinkAbout1986-OR-44 ORDINANCE NO. 86-OR-/~
ORDINANCE TO ESTABLISH CUMULATIVE CAPITAL DEVELOPMENT FUND
WITHIN THE CITY OF JEFFERSONVILLE
WHEREAS, Public Law 44-1984 allows municipalities to
establish a municipal Cumulative Capital Development Fund; and
WHEREAS, the City of Jeffersonville finds that such a
fund is necessary and prudent for the financial well being of the
municipality.
NOW, ThEREFQRE, BE IT ORDAINED by the Common Council of
the City of Jeffersonville as follows.:
SECTION 1
That there is hereby established a Jeffersonville
Cumulative Capital Development Fund.
SECTION 2
That an ad valorem property tax leVy will be imposed
and the revenues from that Ievy will be retained in the
Jeffersonville Cumulative Capita] Development Fund.
SECTION 3
That the maximum rate of levy under
Section 2 will not
in the Jeffers6nville
Development Fund be used for:
Capital improvements as described in Indiana Code, Section
36-15-2 or Indiana Code, Section 36-9-16-3.
Improvement of public ways and sidewalks as described
in Indiana Code, Section 36-9-16.5-2.
The Cumulative Bridge Fund as described in Indiana Code,
Section 8-16-3.
Cumulative Building Fund - Airport as described in Indiana
Code, Section 8-22-3-25
Cumulative Building Fund - Levees as described in Indiana
exceed
a.
Cumulative Capital
a.
.04 per $100 Assessed Valuation for 1987
b. .08 per $100 Assessed Valuation for 1988
c. .12 per $100 Assessed Valuation for 1989
SECTION 4
That the funds accumulated
will
Code, Section 13-2-31-26.
'f.
g.
h.
Oe
Cumulative Maintenance Fund - Channel improvements as
described in Indiana Code, Section 13-3-3-89.
Cumulative Hospital Building Fund as described in Indiana
Code, Section 16-12.2-5-32.
Cumulative Firefighting Building, Equipment, Police Radio
Fund as described in Indiana Code, Section 36-8-14.
Cumulative Transportation Fund - Buses as described in
Indiana Code, Section 36-9-4-48.
Cumulative Building
Section 36-9-16-2.
Cumulative Capital
Fund as described in Indiana Code,
Improvement Fund as described in
Indiana Code, Section 36-9-16-3.
Cumulative Street Fund as described
Section 36-9-16.5.
Genera] Improvement Fund as described
Section 36-9-17.
in Indiana Code,
in Indiana Code,
Cumulative Building Fund - Sewers as described in Indiana
Code, Section 36-9-26.
Cumulative Drainage Fund as described in Indiana Code,
Section 36-9-27-100.
Cumulative Building Fund - Parks as described in Indiana
Code, Section 36-10-3-21.
Cumulative Sinking and Building Fund - Parks as described
in Indiana Code, ~ection 36-10-4-36.
SECTION 5
Notwithstanding Section 4, funds accumulated in the
jeffersonville Cumulative Capital Development Fund may be spent
for purposes other than the purposes stated in Section 4, 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 authority of this section only after the Mayor issues
a declaration that the public health, welfare or safety is in
immediate danger that requires the expenditure of money in the
fund.
SECTION 6
This fund takes effect upon approval of
of Tax Commissioners.
This Ordinance shall be in full
and after its passage and approval.
Passed this ~
the State Board
force and effect from
ATTEST:
Presented by me as Clerk-Treasurer to the Mayor of
of Jefferson¥ille this ~
1986.
said city
day of , 1986.
C. RICHARD SPENCEr, JR.
CLERK-TREASURER
Approved and signed by me this ~/ day of ~ ,
MAYOR DALE L. OREM