The URL can be used to link to this page

Home My WebLink AboutD-1638-03 Cum Cap Dev RateSPONSOR: Councilor Battreall ORDINANCE NO. D- 1638 -03 AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF CARMEL, INDIANA, RE- ESTABLISHING THE CITY OF CARMEL CUMULATIVE CAPITAL DEVELOPMENT FUND AND AMENDING CARMEL CITY CODE CHAPTER 2, ARTICLE 4, SECTION 2 -91 ACCORDINGLY WHEREAS, Indiana Code Sections 6- 1.1 -41 -2 and 36 -9- 15.5 -2 permit the City of Carmel to re- establish a cumulative capital development fund and to impose a property tax for the cumulative fund; and, WHEREAS, it is the determination of the City of Carmel, Indiana, and its Common Council, that a need now exists for the re- establishment of the Carmel Cumulative Capital Development Fund, pursuant to Indiana Code Sections 6- 1.1 -41 -2 and 36- 9- 15.5 -2, for any and all uses and purposes permitted under I.C. 36 -8 -14 for fire department buildings and equipment and police radio equipment, under I.C. 36- 9 -16 -2 for public buildings and rights of way, under I.C. 36- 9 -16 -3 for public ways and sidewalks, sewers, utilities, parks and recreation, police and fire equipment, bond retirement and public transportation, under I.C. 36 -9 -16.5 for public ways and sidewalks, under I.C. 36 -9 -17 for the general improvement of streets, alleys, sidewalks, curbs, gutters, drains and sewers, under I.C. 36- 10 -3 -21 and/or I.C. 36- 10 -4 -36 for parks, recreation and culture, and under I.C. 36 -9- 15.5 -2 for any and all other uses and purposes for which property taxes are authorized to be imposed. WHEREAS, notwithstanding the above, funds accumulated in the Carmel 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; and WHEREAS, 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, with the maximum rate of levy so imposed not to exceed the lesser of $0.15 per $100 assessed valuation or the highest rate of levy allowed by Indiana law, said tax rate being levied beginning with taxes for 2003 payable 2004. 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. Chapter 2, Article 4, Section 2 -91, of the Carmel City Code is hereby amended and, as amended, is approved and shall read as follows: "Sec. 2 -91. CARMEL CUMULATIVE CAPITAL DEVELOPMENT FUND. (a) There is hereby re- established the Carmel Cumulative Capital Development Fund. Page One of Three Pages Prepared By Douglas C. Haney, Carmel City AVomey [th nswwd :d /filtSbrdnurcR/2003W'1630 -03 doc7 /1103] (b) An ad valorem property tax levy will be imposed and the revenues from the levy will be retained in the Carmel Cumulative Capital Development Fund. (c) The maximum rate of levy under subsection (b) will not exceed the lesser of $0.15 per $100 assessed valuation or the highest rate of levy allowed by Indiana law, said tax rate being levied beginning with taxes for 2003 payable 2004. (d) The funds accumulated in the Carmel Cumulative Capital Development Fund will be used for any and all purposes permitted under I.C. 36 -8 -14 for fire department buildings and equipment and police radio equipment, under I.C. 36- 9 -16 -2 for public buildings and rights of way, under I.C. 36- 9 -16 -3 for public ways and sidewalks, sewers, utilities, parks and recreation, police and fire equipment, bond retirement and public transportation, under I.C. 36 -9 -16.5 for public ways or sidewalks, under I.C. 36 -9 -17 for the general improvement of streets, alleys, sidewalks, curbs, gutters, drains and sewers, under I.C. 36- 10 -3 -21 and /or I.C. 36- 10 -4 -36 for parks, recreation and culture, and under I.C. 36 -9- 15.5 -2 for any and all other purposes for which property taxes are authorized to be imposed. (e) Funds accumulated in the Carmel Cumulative Capital Development Fund may be spent for purposes other than those purposes stated in subsection (d) above, 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." Section 3. The Carmel Clerk- Treasurer is hereby directed to promptly forward all applicable proofs of publication of the public hearing held regarding this tax assessment and a certified copy of this fully executed Ordinance to the Department of Local Government Finance of the State of Indiana, as provided by law. Section 4. All prior ordinances or parts thereof inconsistent with any provision of this Ordinance are hereby repealed, to the extent of such inconsistency only, as of the effective date of this Ordinance. However, the repeal or amendment by this Ordinance of another ordinance does not affect any assessments or levies made or to be made under or pursuant to such other City ordinance, or any other applicable law, for any tax year(s) prior to 2003. Those assessments and levies are continued and shall be imposed and enforced under such repealed or amended City ordinance as if this Ordinance had not been adopted. Section 5. 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. Section 6. The Carmel Cumulative Capital Development Fund established by this Ordinance is subject to the approval of the Indiana Department of Local Government Finance. th ASSED by the Common Council of the City of Carmel, Indiana, this 1 day of 2003, by a vote of '7 ayes and nays. Ordinance No. D- 1638 -03 Page Two of Three Pages Prepared By Douglas C. Haney, Carmel City Attorney Itha[word:d: \f In\ ordinances \.2003 d- 1638 -03 .doc0 /1/031 SPONSOR: Councilor Battreall Robert Battreall Ronald E. Carter ATTEST: ATTEST: COMMON COUNCIL FOR THE CITY OF CARMEL, INDIANA yder, President Pr Diana L. Cordray, IAMC e Di. a L. Cordray, IAMC, CI Ordinance No. D- 1638 -03 Page Three of Three Pages Prepared By Douglas C. Haney, Cannel City Attorney ob: tmwordd \61a\ ordinances \2003\61638-03.dw] /1/ empore reasurer Presented by me t the Mayor of the City of Carmel, Indiana, ..2 O'clocl�, M. Approved by me, the Mayor of the City of Carmel, Indiana, this a 35 O'clock, -P. M. Diana L. Cordray, IAMC, Cler easurer SPONSOR: Councilor Battreall 6 day of at-e/ es Brainard, Mayor 2003, at day of lb 2003, at