HomeMy WebLinkAboutResolution CC 10-07-19-02 City's 2020 Property Tax Rate Sponsor: Councilor Worrell
RESOLUTION CC-10-07-19-02
A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF CARMEL,INDIANA,
TO SET TAXES PAYABLE IN 2020 AND AUTHORIZATION OF BORROWING
BETWEEN FUNDS
Synopsis:Resolution finding the City's 2020 property tax rate should not exceed 0.7886, the
current year rate, and showing how the DLGF should allocate the 2020 property levy/rates by Fund.
Resolution also reaffirms borrowing between funds for 2020 budget year.
WHEREAS, it is the policy of the City of Carmel, Indiana("City")to keep City property tax
rates level for taxes payable in 2020; and
WHEREAS, the Indiana Department of Local Government Finance ("DLGF') shall set the
total City tax rate for taxes payable in 2020; and
WHEREAS, the Common Cquncil 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 enhance funds in need of money for cash flow
purposes; and
WHEREAS, the Common Council fords 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 Carmel,
Hamilton County, Indiana:
Section 1. The DLGF is respectfully requested to set the total 2020 City tax rate, for all City
funds not to exceed$0.7886 per$100 of assessed value.
Section 2. The DLGF is respectfully requested to set the 2020 property tax levy of the 0708
Motor Vehicle Highway Fund at a level no greater than the amount needed to fund appropriations.
Section 3. The DLGF is respectfully requested to set the 2020 property tax levy of the 0180
Debt Service tax levy at a level no greater than the amount needed to fund appropriations.
Section 4. After applying the maximum allowable property tax levy to the 0708 Motor
Vehicle Highway Fund, 2391 Cumulative Capital Development Fund, and the 0101 General Fund, as
appropriate, the Department of Local Government Finance is respectfully requested to adjust, as
necessary, the 2482 Road Bond Fund tax levy to a level which will result in the total City tax rate
stated in Section 1.
Section 5. 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, 2020, 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.
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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.
RESOLVED by the Common Council of the City of Carmel, Hamilton County, Indiana,
this ay of L)c4& -Qr, 2019.
COMMON CIL FOR THE CITY OF CARMEL,
Jeff 1, Preside Antho G e
Laura D. Campbell, Vice-Presi nt a Meal
•i • E. Carter Kevin D. Rider
Ash .111,
Wei a
• E
Christine S.P uley, Clerk-Treasur
esented by me to the Mayor of the City of Carmel, iana, at 1/ o'clock Am. on the
day of ,, �. , 2019.
Ch.-----6;4:1)
Wrvet
C stine S.Pau y, Clerk-Treasurer
Approved by me, Mayor of the City of Carmel, Indiana, ate°- o'clock >m. thisd7day of
'4kr , 2019.
Adro.
ames Brainard, Mayor
TTE :
0/0
Christine S. Paul , Clerk-Tre er
Prepared by Benjamin W. Roeger on September 25, 2019, as suggested language only and not as
legal advice. No subsequent revision has been reviewed by Mr. Roeger.
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