From the Shelbyville News:
The Shelbyville Common Council voted 6-1 at its meeting Monday to re-establish a fund used mainly to pay for emergency vehicles.
The cumulative capital fund will have to be voted on again in another meeting before final approval, but if approved the city will see a budget increase in that area.
The city will have the option to raise the levy of the fund from 2.5 cents per $100 of assessed value to as much as 5 cents per $100 on taxes due next year, said Gregory Guerrettaz, a consultant with Financial Solutions Group in Plainfield.
He emphasized the ordinance is not a tax increase or decrease at this point. The city doesn't have all the information yet make a decision on how much, if at all, to increase the fund. But the council will need to vote on whether to retain the option by Aug 1.
"If you don't do it, you'll have no choice," Guerrettaz said.
The fund dwindles over time if it is not re-established, and the revenue the fund has produced in past years has been cut in half because of that. The city supplemented the cumulative capital fund with racino money to pay for police vehicles earlier this year.
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http://www.shelbynews.com/articles/2013/07/03/news/doc51d33e3e9ecc0058797362.txt
