Continuously serving Kosciusko County since 1854
SILVER LAKE - The Silver Lake Town Council Tuesday approved measures to keep money flowing through the town despite late property tax disbursements.
Ordinance 03-06-03, passed unanimously, allows the town to borrow money from the sewer utility fund. The amount borrowed will not exceed 50 percent of last year's spring tax disbursement - $35,581. The short-term loan will be interest- free and will be repaid when this year's final tax disbursements are made, probably December.
Resolutions 03-06-01 and 03-06-02 require the water and sewer utilities to pay the town $13,604 and $7,272, respectively, in an estimated June tax bill.
These amounts were determined using 2002's property tax rate. The utilities' December tax bills will be adjusted accordingly for the estimated June tax bill.
Two other ordinances designed to maintain property values within city limits were passed by the town.
Mobile homes located or placed within city limits cannot be older than five years and all fences erected must have the finished side facing adjoining properties.
Silver Lake Town Council members are: Gale Owens, president; Brenda Wadkins and Donna McCune. Teresa Howell is clerk-treasurer, Phil Shalley is town superintendent.
