HomeMy WebLinkAboutAmending Article 14 Code to Establish a Cumulative Capital Development FundORDINANCE No. 7382 -84
Passed by the Common Council of the City of South Bend, Indiana-
Attest:
IRENE K. GAMMON
Presented by me to the Mayor of the City of South Bend, Indiana
Approved and signed by
September 11, ig 84
Clerk
of Common Council
City Clerk
IRENE K. GAMMON
ORDINANCE NO . %,3" — PV
AN ORDINANCE AMENDING ARTICLE 14 OF THE SOUTH
BEND MUNICIPAL CODE TO ESTABLISH A CUMULATIVE
CAPITAL DEVELOPMENT FUND
STATEMENT OF PURPOSE AND INTENT: Public Law 44 -1984
permits the City to establish a cumulative capital development fund
for any purpose presently allowed for existing cumulative funds and
to levy taxes within certain limits to provide revenues for that
fund. The South Bend Common Council finds that such fund is
necessary and prudent for the financial well -being of the City of
South Bend.
NOW, THEREFORE, BE IT ORDAINED BY THE SOUTH BEND COMMON
COUNCIL, AS FOLLOWS:
SECTION I. That Article 14 of the South Bend Municipal
Code be amended Ty-- adding a new section 2 -167, to read in its
entirety as follows:
Section 2 -167. Cumulative Capital Development Fund.
(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 improvement; 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 -36, 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
subsection (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 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 Board of Public Works.
SECTION II. An ad valorem property tax levy shall be
imposed an 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 Dollars ($100.00) of assessed valuation of real property
within the City and subject to taxation by the following specified
tax rates:
(a) First year of imposition of tax $.04
Second year of imposition of tax $.08
Third year of imposition of tax $.12
9®
• o ee
CITY ®f SOUTH BEND
® m ROGER O. PARENT, Mayor
COUNTY -CITY BUILDING SOUTH BEND, INDIANA 46601
Michael L. Vance
Director, Administration and
Finance
September 5, 1984
Mrs. Beverlie Beck, President
South Bend Common Council
4th Floor Council Chambers
South Bend, IN 46601
Dear President Beck:
2191284 -9483
The enclosed ordinance has been filed for first reading of
the September 10, 1984 Council meeting. You will note that this
is the same ordinance that previously had been heard by the
Common Council reference the establishment of the Cumulative
Capital Development Fund. As you will remember, that ordinance
established the fund at $0.04 the first year, $0.08 the second
year and $0.12 in 1987. When the ordinance was heard and passed
the first time, my office prepared the legal advertisement for
the Clerk's office. In that legal advertisement we had pro-
posed that the Council hear the ordinance on August 20th. As
you are aware, the public hearing was actually held on August
27, 1984. As a result of this happening and the advertisement not
being changed, the original passage of that ordinance would not
be in conformity with the law and, therefore, void. For those
reasons we must readvertise the ordinance and hold the public
rearing over again. It is essential that first reading occur
on the 10th of September and passage occur on the 24th of
September.
If you have any other questions, please feel free to contact
my office. I would like to thank you and the other Council
members for your patience in this matter.
Sincerely,
10�. L", Geo_��
Michael L. Vance
City Controller
MLV /caw