HomeMy WebLinkAboutCC-10-19-15-02 FAILED; Setting tax rates for 2016SPONSOR(S): Councilor(s) Schleif, Seidensticker
Snyder and Sharp
RESOLUTION CC -10-19-15-02
(FORMERLY CC -10-05-15-01)
A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF CAI£MEL,
INDIANA, TO SET TAXES PAYABLE IN 2016 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 2016; and
WHEREAS, the Indiana Department of Local Government Finance ("DLGF") shall set
the total City tax rate for taxes payable in 2016; and
WHEREAS, the Common Council)nnends to levy for the 0708 Motor Vehicle Highway
Fund only the amount needed to fund 'leaving no operating balance; and
WHEREAS, the Common Codi r intends to appropriate lease rental payments in the
2482 Road Bond Fund only to the tkpt consistent with the policy of keeping the total city tax
rate level, and intends any rem aji}fr lease ental payments to be appropriated in the General
Fund; and
WHEREAS, the Common Qouncil intends to enhance funds in need of money for cash
flow purposes; and
WHEREAS, the Co ion Council finds that certain funds have sufficient cash available
to temporarily deposit to thcredit of other funds.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of
Carmel, Hamilton Cogf ty, Indiana:
Section 1./The DLGF is respectfully requested to set the total 2016 City tax rate, for all
City funds at exactly $0.7007 per $100 of assessed value.
Sectio d 2. The DLGF is respectfully requested to set the 2016 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 pemrits 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,
2016, 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 RESOLVED by the Common Council of the City of Carmel, Hamilton County,
Indiana, this Iyf day of 0C(D3a2-- , 2015.
COMMON COUNCIL FOR THE CITY OF CARMEL, INDIANA
Presiding Officer Kevin D. Rider
o? -Pts
Richard L. Sharp, President Pro Tempore Carol Schleif
oV Po cH
Ronald E. Carter W. Eric Seidensticker
0 PL) c�
Sue Finkam Luci Snyder
ATTEST:
Clerk -Treasurer
Presented by me to the Mayor of the City of Carmel, Indiana, this day of
, 2015 at . m.
Diana L. Cordray, IAMC, Clerk -Treasurer
Approved by me, Mayor of the City of Carmel, Indiana, this day of
,2015 at .m.
James Brainard, Mayor
ATTEST:
Diana L. Cordray, IAMC, Clerk -Treasurer
PREPARED BY: Richard L. Sharp
Carmel City Council President