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Home My WebLink AboutD-2024-10 Cum Cap Development Fund 203 As AmendedWHEREAS, as permitted by Indiana code, IC- 36- 9 -16 -2, municipalities may establish a cumulative capital development fund and cumulative capital improvement fund; and WHEREAS, as further amended by 1 -6 -7 -1 -31.1 municipalities may now use the money in the cumulative capital development fund (cigarette tax supported fiend) for any other governmental purpose for which money is appropriated by the fiscal body of the city; and WHEREAS, as permitted by Indiana law, the City of Carmel Common Council "Common Council has established a cumulative capital development fund "Fund 211") and a cumulative capital improvement fund "Fund 203 which Funds are codified in Carmel City Code Sections 2 -91 and 2 -92, respectively; and WHEREAS, the Common Council now desires to amend the City Code Sections which establish and codify Funds 211 and 203 to better ensure that monies from said funds are expended for authorized public purposes only. follows: Section 1. The foregoing Recitals are incorporated herein by reference. SPONSORS: Councilors Snyder, Sharp, Seidensticker and Accetturo ORDINANCE D- 2024 -10 AS AMENDED AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF CARMEL, INDIANA, ADDING CHAPTER 2, ARTICLE 4, SECTIONS 2 -91(2) and 2 -92 (c) TO THE CARMEL CITY CODE NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of Carmel, Indiana as Section 2. Chapter 2, Article 4, Section 2 -91(g) should be and the same is hereby added to the Carmel City Code and shall read as follows: °(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 3. Chapter 2, Article 4, Section 2 -92(c) should be and the same is hereby added to the Carmel City Code and shall read as follows: "(c) No monies shall be spent from the Fund established by this Section without the prior approval of the Common Council." Page One of Three Pages As Amended 2 -7 -1 1 Version B This Ordinance was prepared by Douglas C. Haney, Carmel City Attorney, revised by the Finance Committee and Common Council. Z: \E Bass \My Documents \ORDINANCES∎AmendCode\2011\D 2024 -102nd Amendment AMENDED 1 -21 -11 Cum Cap Improve Fund.doc2/7I2011 624 PM 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. Section 5. If any portion of this Ordinance is for any reason declared to be unconstitutional or invalid, such decision shall not affect the validity of the remaining portions of this Ordinance so long as enforcement of same can be given the same effect. Section 6. All other current provisions of City Code Sections 2 -91 and 2 -92 shall remain in full force and effect. Section 7. This Ordinance shall be in full force and effect from and after its passage and signing by the Mayor. PASSED by the Common. Council of the City of Carmel, Indiana, this 7 day of 2011, by a vote of `7 ayes and a nays. Presiding Offi W. Eric Seide ATT T: V. Accetturo onald E. Carter Diana L. Cordray, IAMC, Clerk j7-asurer SPONSORS: Councilors Snyder, Sharp, Seidensticker and Accetturo COMMON COU ,CIL FOR THE CITY OF CARMEL alpore Ordinance D- 2024 -10, As Amended 1 21 11 Version 21 B Page Two of Three Pages a 1'7 (r+ di This Ordinance was prepared by Douglas C. Haney, Carmel City Attorney, and revised by the Finance Committee. Z\E Bass\My Documents \ORDINANCES+4mendCode\201110- 2024 -10 CLEAN AMENDED 1 -21 -11 Cum Cap Improve Fund.doc1 /25/2011 10:33 AM ATTEST: Diana L. Cordray, IAMC, Clerk- Treasurer Ordinance D 2024 10, As Amended Version 0'13 Page Three of Three Pages 1- 2: \E Bass\My DocumentslORDINANCESSAmendCode12011 1D- 2024 -10 CLEAN AMENDED 1-21 -11 Cum Cap Improve Fund.doc1 /25/2011 10:33 AM SPONSORS: Councilors Snyder, Sharp, Seidensticker and Accetturo Presented by me to the Mayor of the City of Cannel, Indiana this day of 6 ot, 2011, at Il :c1 A .M. es Brainard, Mayor Diana L. Cordray, IAMC, k- Treasurer s+ Approved by me, Mayor of the City of Carmel, Indiana, this a l day of .¢-15k 2011, at I Os- P P.M. This Ordinance was prepared by Douglas C. Haney, Carmel City Attorney, and revised by the Finance Committee.