HomeMy WebLinkAboutEstablishing a Cumulative Capital Development Fund ORDINANCE No. 7876-88
Passed by the Common Council of the City of South Bend, Indiana
May 23 , Ig 88
Attest: 7" City Clerk
IRENE K. GAMMON
Attest: '%?• _ .._i-Abs`_ President of Common Council
Presented by me to the Mayor of the City of South Bend, Indiana
Mav 24, 19 88
City Clerk
IRENE K. GAMMON
Approved and signed by me May 2 4 , 19 8 8
(A,4114-. Mayor
BILL NO.
ORDINANCE NO. 7 8'7 6 --8'F
AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND,
INDIANA, ESTABLISHING A CUMULATIVE CAPITAL DEVELOPMENT FUND
STATEMENT OF PURPOSE AND INTENT:
Public Law 44-1984, I .C. 36-9-15.5 permits the City to estab-
lish a Cumulative Capital Development Fund for any purpose present-
ly allowed for existing cumulative funds and to levy within certain
limits to provide revenues for that fund. on July 8, 1985, the
Common Council passed Ordinance No. 7486-85 establishing a Cumula-
tive Capital Development Fund and levying taxes for said fund for
the years of 1986, 1987 and 1988. The South Bend Common Council
finds that it is necessary to re-establish such fund for the years
of 1989, 1990, and 1991 in order to assure the financial well-being
of the City of South Bend.
NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL AS
FOLLOWS:
SECTION I (a) . A Cumulative Capital Development Fund is
established, to be used for any purposes permitted under I.C.
36-9-16, for capital improvements; for any purposes permitted under
I.C. 36-9-16. 5, for public ways and sidewalks; for any purposes
permitted under I.C. 36-9-26, for sewers; for any purposes
permitted under I.C. 36-9-17, for general improvements; for any
purposes permitted under I .C. 36-8-14, for firefighting building
and equipment and police radios; for any purposes permitted under
I.C. 36-10-4-6, for parks; and for any purposes permitted under
I.C. 36-9-16-2 for public buildings and rights-of-way.
(b) . Notwithstanding uses permitted under Subsection (a) ,
above, funds accumulated in the Cumulative Capital Development Fund
may be spent for purposes other than those purposes stated in
Section (a) 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 section only after the Mayor issues a
declaration that 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 Board of Public
Works.
SECTION II . An ad valorem property tax levy shall be imposed
and revenues from that levy shall be retained in the South Bend
Cumulative Capital Development Fund.
SECTION III. The maximum rate of the levy under Section II
shall not exceed an amount to be determined by multiplying each One
Hundred ($100.00) Dollars of assessed tax valuation of real
property within the City and subject to taxation by the following
specified tax rates:
First year of imposition of tax ( 1989) $.12
Second year of imposition of tax (1990) $.12
Third year of imposition of tax ( 1991) $.12
SECTION IV. Proofs of publication and position of notices of
the public hearing held on this 23rd day of May
1988 shall he suhmi_tted to the State Rnard of Tax C'_nmmicsinnPrc of
•
SECTION V. Submission of this ordinance to the State Board of
Tax Commissioners shall be published in accordance with I.C. 5-3-1.
SECTION VI. This ordinance shall be in full force and effect
from and after its passage by the Common Council, approval by the
Mayor, and approval by the State Board of Tax Commissioners.
Member .f the Common Council
ORD/2/CVP
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DEPARTMENT OF ADMINISTRATION AND FINANCE
Katherine Humphreys
Director
May 4, 1988
Mr. John Voorde,
President
South Bend Common Council
4th Floor Council Chambers
South Bend, IN 46601
Dear Mr. Voorde:
Attached please find an ordinance which is being filed for the
purpose of re-establishing the Cumulative Capital Development Fund
for the years 1989, 1990 and 1991. This fund was first established
by ordinance adopted in 1985 and phased in over a three year period
beginning in 1986. It is necessary to re-establish this fund every
three years to retain the current rate ceiling as provided by Public
Law 44-1984.
The purpose of the fund is to provide South Bend with a method to
develop a long range capital plan to be used for the purchase of
equipment and funding of capital improvements, as well as to provide
for expenditures to protect the public health, welfare or safety in
an emergency situation which demands immediate action.
The fund provides for a levy on property of twelve cents ($.12)
per $100 assessed valuation which is the same levy established for
the current year and the maximum rate that can be established for
municipalities in counties that have not taken advantage of the local
option income tax. The levy would continue the at this rate for all
three years, at which time it will again be necessary to re-establish
the fund.
County-City Building, South Bend, Indiana 46601,219/284-9742 Fax 219/284-9892
Cathy Hubbard John Leisenring Lori Schur
Personnel Coordinator Chief Deputy Controller E.D.P. Coordinator
284-9124 284-9483 284-9911
John Voorde
May 4, 1988
Page 2
If you have any questions regarding this ordinance please feel
free to contact me.
Sincerely,
Katherine Humphreys
Director, Administration
and Finance
KH/rs
cc: South Bend Common Council
Kathy Cekanski-Farrand
Irene Gammon
-
Olnintnitur Krpurt
au to ftmm= Qlountil of the Olitg of*until Beni:
Your Committee of the Whole
to whom was referred
BILL NO.
30-88 A BILL OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND,
INDIANA, ESTABLISHING A CUMULATIVE CAPITAL DEVELOPMENT FUND.
Respectfully report that they have examined the matter and that in their opinion
This bill should be recommended to the Council favorable, as amended,
by filling in the blanks in Section IV. to read as follows: 23rd,
May.
Thomas Zakrzewski
Chairman