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Home My WebLink AboutD-2456-19 Cum Cap Development Fund SPONSORS: Councilors Worrell and Finkam ORDINANCE D-2456-19 AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF CARMEL,INDIANA, REESTABLISHING THE TAX RATE FOR THE CITY OF CARMEL CUMULATIVE CAPITAL DEVELOPMENT FUND AND REAFFIRMING CARMEL CITY CODE CHAPTER 2,ARTICLE 4,SECTION 2-91,ACCORDINGLY Synopsis:Annual re-establishment of the Cumulative Capital Development Fund required to maintain the property tax rate of 0.0500. WHEREAS, Indiana Code 6-1.1-41 et seq. and 36-9-15.5 et seq. permit the City of Carmel to establish a cumulative capital development fund and to impose a property tax for the cumulative fund; WHEREAS, in or about 1990 it was the determination of the City of Carmel, Indiana, and its Common Council, that a need existed for the establishment of the Cannel Cumulative Capital Development Fund, such Fund being most recently re-established in 2015 by City Ordinance No. D-2215- 15, pursuant to Indiana Code 6-1.1-41-2 and 36-9-15.5-2, for any and all uses and purposes permitted under Indiana Code 36-9-16-3, for capital improvements; for any purposes permitted under Indiana Code 36-9-16.5-2, for public ways and sidewalks; for any purposes permitted under Indiana Code 36-9-26, for municipal sewers; for any purposes permitted under Indiana Code 36-9-17, for general improvement; for any purposes permitted under Indiana Code 36-8-14-2, for firefighting building and equipment and police radios; for any purposes permitted under Indiana Code 36-10-4-36, for parks; for any purposes permitted under Indiana Code 36-9-16-2 for public buildings and rights-of-way; for any purpose permitted under Indiana Code 36-9-27-99 for drainage; and for any purposes permitted under Indiana Code 36-10-3-21 for parks and recreation; WHEREAS, notwithstanding the above, under Indiana Code 36-9-15.5-8(c), funds accumulated in the Cannel Cumulative Capital Development Fund may be spent for purposes other than those uses and purposes stated herein, provided that the purpose of such expenditure is to protect the public health, welfare or safety in a declared emergency situation or as otherwise authorized by law; WHEREAS, an ad valorem property tax levy was imposed and the revenues from the levy were retained in the City Cumulative Capital Development Fund, with the maximum rate of levy so imposed not to exceed the highest rate of levy allowed by Indiana law; WHEREAS, pursuant to Indiana Code 6-1.1-41-11, once the levy has been approved, the Common Council may reduce or rescind the annual levy, if it considers it advisable; WHEREAS, pursuant to Indiana Code 6-1.1-41-13, once the Fund is established, a property tax may be levied annually at the tax rate approved and advertised annually as other tax levies are advertised; WHEREAS, for taxes due and payable in the year 2020, the tax will be levied on all taxable real and personal property within the taxing district and will not exceed $0.05 per$100 assessed valuation; WHEREAS,the Common Council adopted this same tax rate of$0.05 per$100 assessed valuation for the Cumulative Capital Development Fund last year,but such rate was reduced by the Indiana Department Local Government Finance to $0.0497 for taxes payable in 2019 as part of an annual adjustment per Indiana Code 6-1.1-18-12; and WHEREAS, the policy of the Indiana Department of Local Government Finance is to require re- establishment of cumulative funds when the property tax rate in the ensuing year is to exceed the property tax rate in the current year. NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of Carmel, Indiana, as follows: Section 1. The foregoing Recitals are incorporated herein by this reference. Section 2. Ordinance No. D-2361-17 is hereby re-affirmed. Section 3. Chapter 2, Article 4, Section 2-91, of the Carmel City Code is hereby reaffirmed as follows: "Sec. 2-91. Cumulative Capital Development Fund (Fund 211). (a) There is hereby established the City of Carmel Cumulative Capital Development Fund. (b) An ad valorem property tax levy will be imposed and the revenues from the levy will be retained in the City Cumulative Capital Development Fund. (c) The maximum rate of levy under subsection (b) will not exceed the highest rate of levy allowed by Indiana law. (d) The rate of levy shall be determined each year by the Council and shall be approved, advertised, and adopted in the same manner as other tax levies are approved, advertised and adopted. (e) The funds accumulated in the City Cumulative Capital Development Fund will be used for purposes permitted under Indiana Code 36-9-16-3, for capital improvements; for any purposes permitted under Indiana Code 36-9-16.5-2, for public ways and sidewalks; for any purposes permitted under Indiana Code 36-9- 26-2, for municipal sewers; for any purposes permitted under Indiana Code 36-9- 17, for general improvement; for any purposes permitted under Indiana Code 36-8- 14-2, for firefighting building and equipment and police radios; for any purposes permitted under Indiana Code 36-10-4-36, for parks; for any purposes permitted under Indiana Code 36-9-16-2 for public buildings and rights-of-way; for purpose permitted under 36-9-27-99 for drainage; and for any purposes permitted under 36- 10-3-21 for parks and recreation. Page 12 Prepared by Benjamin W.Roeger on February 26,2019,as suggested language only and not as legal advice.No subsequent revision has been reviewed by Mr.Roeger. (f) Notwithstanding uses permitted under subsection (e) above, funds accumulated in the Cumulative Capital Development Fund may be spent for purposes other than those purposes stated in subsection(e), provided that the purpose of the expenditure is to protect the public health, welfare or safety in an emergency situation which demands immediate action. Funds may be spent under the authority of this subsection 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 and files notice of such emergency declaration with the Carmel Common Council. (g) Except as provided in subsection (f) above, no bids shall be let and no monies shall be spent from the Fund established by this section for projects not submitted during the budget process without the prior approval of a simple majority of the Common Council at a publically noticed meeting of the Common Council, the list should include estimated costs and money sources. Section 4. For taxes due and payable in the year 2020, the levy will not exceed $0.05 per $100 assessed valuation. Section 5. Proofs of publication of the public hearing held on the 18th day of March, 2019, and a certified copy of this ordinance shall be submitted to the Department of Local Government of the State of Indiana as provided by law. Said Cumulative Fund is subject to the approval of the Department of Local Government Finance. Section 6. This Ordinance shall be in full force and effect from and after the date of its passage, signing by the Mayor and such publication as is required by law. Page 13 Prepared by Benjamin W.Roeger on February 26,2019,as suggested language only and not as legal advice.No subsequent revision has been reviewed by Mr.Roeger. A opted by the Common Council of the City of Carmel, Indiana this /' day of , 2019,by a vote of ayes and nays. COMMO UNCIL FOR THE CITY 0 CAR Jeff Worrell ent Anthony Gre 1 1 ' f Laura D. Campbell, Vice- esident H. Bruce ' all Roy Carter Kevin D. Rider Air A Stir ir /Presented by me to th Mayor the ' Carmel, Indiana this day of cbrc 1 2019, at Kj C me S. Paule , Clerk-Treasur1/17 Approved by me,Mayor of the City of Carmel, Indiana,this �/ day of ,y, .PcJ1 2019, atc,2 /4?)--7-c/-fr7ter;" es Brainard, Mayor ATTE : Chri ' e S. Pauley, Cle -Treasurer Ordinance No.D-2456-19 Page Four of Four Pages Page 14 Prepared by Benjamin W.Roeger on February 26,2019,as suggested language only and not as legal advice.No subsequent revision has been reviewed by Mr.Roeger.