[Adopted by the Mayor and Council of the City of Aberdeen 3-27-2017 by Ord. No. 17-O-07. Amendments noted where applicable.]
Commencing with the City's 2018 fiscal year, the City of Aberdeen annually shall provide grant funding to the Aberdeen Volunteer Fire Department, Inc., as provided in this section.
The grant funding required by this section may be made subject to a grant agreement between the City of Aberdeen and the Aberdeen Volunteer Fire Department, Inc. The grant agreement may provide for the distribution and use of the grant funds and any other terms and conditions relating to the use of the grant funds and the operation of the Fire Department as the City may require.
Each year the City's operating budget shall include an appropriation for the annual grant to the Aberdeen Volunteer Fire Department, Inc. The appropriation shall be an amount equal to the revenue generated by the City property tax levied on all taxable real property in the City in an amount of $.02 for each $100 of assessed valuation of taxable real property, but in no event shall the amount of the annual appropriation and grant be less than $260,000 or more than $500,000.