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Statutes > Indiana > Title36 > Ar9 > Ch15.5

IC 36-9-15.5

    

Chapter 15.5. Municipal Cumulative Capital Development Fund

IC 36-9-15.5-1

Application of chapter
    

Sec. 1. This chapter applies to all municipalities.
As added by P.L.44-1984, SEC.17.

IC 36-9-15.5-2

Authorization of fund; purpose
    

Sec. 2. The legislative body of a municipality may establish a
cumulative capital development fund under IC 6-1.1-41 to provide
money for any purpose for which property taxes may be imposed
within the municipality under the authority of:
        IC 8-16-3;
        IC 8-22-3-25;
        IC 14-27-6-48;
        IC 14-33-14;
        IC 16-23-1-40;
        IC 36-8-14;
        IC 36-9-4-48;
        IC 36-9-16-2;
        IC 36-9-16-3;
        IC 36-9-16.5;
        IC 36-9-17;
        IC 36-9-26;
        IC 36-9-27-100;
        IC 36-10-3-21; or
        IC 36-10-4-36.
As added by P.L.44-1984, SEC.17. Amended by P.L.2-1993,
SEC.208; P.L.1-1995, SEC.87; P.L.17-1995, SEC.32.

IC 36-9-15.5-3

Repealed

    (Repealed by P.L.17-1995, SEC.45.)

IC 36-9-15.5-4

Repealed

    

(Repealed by P.L.17-1995, SEC.45.)

IC 36-9-15.5-5

Repealed

    

(Repealed by P.L.17-1995, SEC.45.)

IC 36-9-15.5-6

Tax levy; rate of tax
    

Sec. 6. (a) Except as provided in subsection (c), the municipal
fiscal body may provide money for the cumulative capital
development fund by levying a tax in compliance with IC 6-1.1-41
on the taxable property in the municipality.

    (b) The maximum property tax rate that may be imposed for
property taxes first due and payable during a particular year in a
municipality that is either wholly or partially located in a county in
which the county option income tax or the county adjusted gross
income tax is in effect on January 1 of that year depends upon the
number of years the municipality has previously imposed a tax under
this chapter and is determined under the following table:
    NUMBER
    TAX RATE PER $100

    OF YEARS
    OF ASSESSED

    
    VALUATION

    0
    $0.0167

    1
    $0.0333

    2 or more
    $0.05

    (c) The maximum property tax rate that may be imposed for
property taxes first due and payable during a particular year in a
municipality that is wholly located in a county in which neither the
county option income tax nor the county adjusted gross income tax
is in effect on January 1 of that year depends upon the number of
years the municipality has previously imposed a tax under this
chapter and is determined under the following table:
    NUMBER
    TAX RATE PER $100

    OF YEARS
    OF ASSESSED

    
    VALUATION

    0
    $0.0133

    1
    $0.0267

    2 or more
    $0.04

As added by P.L.44-1984, SEC.17. Amended by P.L.17-1995,
SEC.33; P.L.146-2008, SEC.792.

IC 36-9-15.5-7

Repealed

    

(Repealed by P.L.17-1995, SEC.45.)

IC 36-9-15.5-8

Cumulative capital development fund; transfer between funds;
expenditures
    

Sec. 8. (a) The tax money collected under this chapter shall be
held in a special fund to be known as the cumulative capital
development fund.
    (b) In a consolidated city, money may be transferred from the fund
to the fund of a department of the consolidated city responsible for
carrying out a purpose for which the cumulative capital development
fund was created. The department may not expend any money so
transferred until an appropriation is made and the department may
not expend any money so transferred for operating costs of the
department.
    (c) Money held in the cumulative capital development fund may
be spent for purposes other than the purposes stated in section 2 of
this chapter, if the purpose is to protect the public health, welfare, or
safety in an emergency situation that demands immediate action or

to make a contribution to an authority established under IC 36-7-23.
Money may be spent under the authority of this subsection only after
the executive of the municipality:
        (1) issues a declaration that the public health, welfare, or safety
is in immediate danger that requires the expenditure of money
in the fund; or
        (2) certifies in the minutes of the municipal legislative body that
the contribution is made to the authority for capital
development purposes.
As added by P.L.44-1984, SEC.17. Amended by P.L.82-1985, SEC.6;
P.L.346-1989(ss), SEC.9; P.L.17-1995, SEC.34.