HomeMy WebLinkAboutD-872 Rate/ Cum Cap SewerORDINANCE D-872
AN ORDINANCE RE-ESTABLISHING THE
CUMULATIVE CAPITAL SEWER FUND FOR
THE CITY OF CARMEL, INDIANA AND
ESTABLISHING A TAX RATE FOR SAID FUND
WHEREAS, IC 36-9-26 allows municipalities to establish and
re-establish a Cumulative Capital Sewer Fund; and
WHEREAS, the City of Carmel, Indiana finds that such a fund is
necessary to res-establish and prudent for the financial well being
of the municipality;
NOW THEREFORE, BE IT ORDAINED BY THE City of Carmel
SECTION 1. That there is hereby re-established the City of
Carmel Cumulative Capital Sewer Fund.
SECTION 2. That an ad valorem property tax levy will be
imposed and the revenues from the levywill be retained in the City
of Carmel Cumulative Capital Sewer Fund.
SECTION 3. That the maximum rate of levy under SECTION 2 will
not exceed $.05 per $100 Assessed Valuation
SECTION 4. That the City of Carmel Cumulative Capital Sewer
Fund is re-established for the years 1993, 1994 and 1995.
SECTION 5. That the funds accumulated in the City of Carmel
Cumulative Capital Sewer Fund will be used for the planning,
erection, remodeling, extention and repair of storm sewers. To
construct relief sewers and drains in aid of the storm sewers. The
payment of the City's part of the costs of any public storm sewer
or drainage project that lies partly or wholly within the City and
aids or is connected to the drainage system of the City.
SECTION 6. Notwithstanding SECTION 4, funds accumulated in
the City of Carmel Cumulative Capital Sewer 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 the authority of this section only after the City
Council issues a declaration that the public health, welfare and
safety is in immediate danger that requires the expenditures of
money in the fund.
SECTION 7. This fund takes effect upon approval of the State
Board of Tax Commissioners.
Passed by the Common Council of the City of Carmel, Indiana on the
30th day of November 1992.
AY
NAY
Presented to me of this 1st day of Dece er,
Treasurer of the City of Carmel for pa e.
/~san W. Jones, C ?reasurer
1992 by the Clerk-
Johnson