The officers of a new reestablished township government shall:

1. (1) obtain from the department of local government finance approval under IC 6-1.1-18.5-7 of:

   1. (A) a budget;
   2. (B) an ad valorem property tax levy; and
   3. (C) a property tax rate;
2. (2) fix the annual budget under IC 6-1.1-17 ;
3. (3) impose a property tax levy; and

4. (4) take any action necessary to ensure the collection of fees and other revenue;

   for the new township government for the budget year following the year the officers take office.

As added by P.L.240-2005, SEC.4.