Indiana § 10-18-4-6 Taxes levied for bonds; World War memorial bond fund; sinking fund

Indiana Statutes

§ 10-18-4-6 — Taxes levied for bonds; World War memorial bond fund; sinking fund

Indiana § 10-18-4-6

Title 10PUBLIC SAFETY

Art. 18WAR MEMORIALS

Ch. 4City War Memorials

This text of Indiana § 10-18-4-6 (Taxes levied for bonds; World War memorial bond fund; sinking fund) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 10-18-4-6 (2026).

Text

(a)To raise money to pay the bonds and the interest on the bonds issued under this chapter, the legislative body of the city and all other officials, whether city or state, shall levy each year, in addition to all other taxes the city may levy, a tax on all property, real or personal, within the city, in the manner and at a rate on each one hundred dollars ($100) of taxable property in the city as to meet the principal of the bonds as they severally mature and interest accruing on the bonds. The legislative body of the city and the fiscal officer of the city shall certify the taxes levied each year to the auditor of the county in which the city is located or other proper officer not later than the first Monday of September in each year or at the time of the certification of the city's ann

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(a) To raise money to pay the bonds and the
interest on the bonds issued under this chapter, the legislative body of
the city and all other officials, whether city or state, shall levy each
year, in addition to all other taxes the city may levy, a tax on all
property, real or personal, within the city, in the manner and at a rate
on each one hundred dollars ($100) of taxable property in the city as to
meet the principal of the bonds as they severally mature and interest
accruing on the bonds. The legislative body of the city and the fiscal
officer of the city shall certify the taxes levied each year to the auditor
of the county in which the city is located or other proper officer not
later than the first Monday of September in each year or at the time of
the certification of the city's annual tax levy.
(b) Taxes levied and certified under this section shall be collected
and enforced in the same manner as other taxes are collected and
enforced. As the taxes are collected, the taxes shall be:
(1) kept in a separate fund to be known as the "World War
Memorial bond fund"; and
(2) applied to the payment of the bonds issued under this chapter
and interest accruing on the bonds as they severally mature, and
for no other purpose.
All money collected for the payment of the bonds and the interest
accruing on the bonds shall be deposited at interest with one (1) or
more of the depositories as other public funds of the city. All interest
collected becomes a part of the fund.
(c) In a city in which there has been established a sinking fund and
a board of sinking fund commissioners:
(1) the World War Memorial bond fund shall be under the care,
custody, control, and jurisdiction of the board of sinking fund
commissioners; and
(2) all taxes authorized and required to be levied and collected
under this section to pay the bonds as they mature and interest
accruing on the bonds shall be used and applied by the board of
sinking fund commissioners to pay the bonds as they mature with
interest on the bonds.
[Pre-2003 Recodification Citation: 10-7-6-5.]