BE IT ORDAINED by the Town Council of the Town of Silver Lake of Kosciusko County, Indiana that a need now exists for the reestablishment of a Cumulative Capital Development Fund for all uses as set out in IC 36-9-15.5.
BE IT FURTHER ORDAINED that this Council will adhere to the provisions of Indiana Code 36-9-15.5. The proposed fund will not exceed:
$0.0500 per $100 of assessed valuation beginning with taxes payable in 2024.
BE IT FURTHER ORDAINED that proofs of publication of the public hearing held on the 12th day of April, 2023, and a certified copy of this Ordinance shall be submitted to the Department of Local Government
Finance of the State of Indiana as provided by law. This Cumulative Fund is subject to the approval of the Department of Local Government Finance.
Duly adopted by the following vote of the members of said Town Council of the Town of Silver Lake, Indiana this 12th day of April 2023.
