HomeMy WebLinkAboutCC-11-03-14-03 Set Taxes Payable for 2015 SPONSOR(S): Councilors Carter, Snyder and Rider
RESOLUTION CC-11-03-14-03
(FORMERLY CC-10-06-14-08)
A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF CARMEL,
INDIANA, TO SET TAXES PAYABLE IN 2015 AND AUTHORIZATION OF
BORROWING BETWEEN FUNDS
WHEREAS, it is the policy of the City of Carmel, Indiana("City") to keep City property
tax rates level for taxes payable in 2015; and
WHEREAS, the Indiana Department of Local Government Finance ("DLGF") shall set
the total City tax rate for taxes payable in 2015; and
WHEREAS, the Common Council intends to levy for the 0708 Motor Vehicle Highway
Fund only the amount needed to fund appropriations, leaving no operating balance; and
WHEREAS, the Common Council intends to appropriate lease rental payments in the
2482 Road Bond Fund only to the extent consistent with the policy of keeping the total city tax
rate level, and intends any remaining lease rental payments to be appropriated in the General
Fund; and
WHEREAS, the Common Council intends to enhance funds in need of money for cash
flow purposes; and
WHEREAS, the Common Council finds that certain funds have sufficient cash available
to temporarily deposit to the credit of other funds.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of
Cannel, Hamilton County, Indiana:
Section 1. The DLGF is respectfully requested to set the total 2015 City tax rate, for all
City funds at exactly$0.7007 per$100 of assessed value.
Section 2. The DLGF is respectfully requested to set the 2015 property tax levy of the
0708 Motor Vehicle Highway Fund at a level no greater than the amount needed to fund
appropriations, with no operating balance.
Section 3. After applying the maximum allowable property tax levy to the 0101 General
Fund, 0708 Motor Vehicle Highway Fund, and 2391 Cumulative Capital Development Fund, as
appropriate, the Department of Local Government Finance is respectfully requested to reduce, as
necessary, first the 2482 Road Bond Fund tax levy and then the 0101 General Fund tax levy to a
level which will result in the total City tax levy stated in Section 1.
Section 4. The Common Council permits the borrowing among funds under Indiana
Code § 36-1-8-4. Borrowing may only take place where it is necessary to enhance a fund in
need of money for cash flow purposes. The borrowed amount shall be returned by December 31,
2015, and may not exceed the amount needed to fund appropriations or other lawful
disbursements. Borrowing may only take place where a fund has sufficient money on deposit
that can be temporarily transferred. Only revenues derived from the levying and collection of
property taxes or special taxes or operation of the political subdivision may be included in the
amount transferred.
SO REOLVED by the Common Council of the City of Carmel, Hamilton County,
Indiana, this3 day of 1. fl%ie thA"kif( , 2014.
COMMON COUNCIL FOR THE CITY OF ARMEL,IND •i 'A
Presiding OO icer evin D. Rider
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(A
W. Eric Seiden• icker,President P • empore Carol Schl-
Ate/,'
d E. CartAi- Richar) L. S arp
Fink. Lu nyder
ATTES.
O' • ,1 glLt
Clerk-Treasurer
hc� Presented y me to the Mayor of the City of Carmel, Indiana, at$_o'clock 19 . m. on the
3 day of 52014.
Diana L. Cordray, IAMC, Clerk-Treafurer
pproved by me,Mayor of the City of Carmel, Indiana, atg• o'clock r. m. this 3
1c
day ofN0k-e-rtsdb-01.— , 2014.
Janes Brainard,Mayor
ATTEST
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Diana L. Cordray, IAMC, Clerk-Trf.surer
Prepared by James Brainard
2