[Adopted 9-11-2008 by Ord. No. 1804]
The Council of the City of Washington, Washington County, Pennsylvania, pursuant to the Commonwealth of Pennsylvania Third Class City Code, possesses the power to assess, levy and collect taxes from its citizenry. The City of Washington has the power to designate the use of said taxes collected for a specific use and purpose. The City of Washington desires to designate a certain amount of tax millage to be used for the purpose of capital improvements within the City of Washington.
Editor's Note: See 11 Pa.C.S.A. § 10101 et seq.
The City of Washington shall hereby designate the use of five tax mills of land value on an annual basis for the sole purpose of planning and providing for capital improvements within the City of Washington. "Capital improvement" shall mean those projects and/or issues that the Council of the City of Washington shall deem of utmost importance to the City from time to time.
The Director of Accounts and Finance of the City of Washington is hereby authorized and directed to create a separate interest-bearing account to hold said funds and shall report to the Council of the City of Washington from time to time regarding the principal balance and any interest earned therefrom. The account created by this article shall be known and designated as the "Capital Improvement Fund." The account created by this article shall be included as part of the annual audit of the City of Washington.