CAPITAL PROJECTS: City moves to reestablish cumulative funds

COLUMBIA CITY — Cumulative funds were reestablished by the Columbia City Common Council Tuesday.Cumulative fire, park and street funds were reestablished by the city and approved as resolutions unanimously by the council. The fire and park funds are not to exceed 5 cents of each $100 of assessed valuation, and the street is not to exceed 10 cents per $100 of assessed valuation.Columbia City Clerk-Treasurer Rosie Coyle said the funds have paid for major projects in the past.“DeVol Field rennovations, the rennovation of the pavilion in Morsches Park and the trail expansion have come out of here,” she said.The funds exist to pay for capital projects such as building repair and equipment purchases, not salaries of employees. The funds are a place for the city to save up for large purchases in a way that is not allowed in the general budget.In other business...To read the rest of this story, see the March 29 issue of The Post and Mail. Don't have a subscription? Call (260) 244-5153 or subscribe to our e-edition. For breaking news, sports updates and additional coverage, bookmark the homepage and find us on facebook and twitter.