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.