§ 14-13-9-25 — Creation of segregated account; uses; landowner reimbursement

Indiana § 14-13-9-25

• Jurisdiction: Indiana
• Art. 13: LOCAL RESOURCE DEVELOPMENT
• Ch. 9: Kankakee River Basin and Yellow River Basin

Text

(a) The commission shall deposit special
assessments received under section 22 of this chapter into a segregated
account maintained by the commission. Except as provided in
subsection (b), special assessments deposited into the account may not
be transferred into other accounts belonging to the commission. Money
in the account may be used only for the following purposes:
(1) To pay expenses directly related to the acquisition,
construction, or improvement of real property, a facility, a
betterment, or an improvement constituting part of a project of the
commission, including acquisition of the site for a project.
(2) To pay expenses directly related to the operation, repair, and
maintenance of flood protection systems within the basin.
(3) To pay the annual installment and interest on a loan or other
financial assistance received under IC 5-1.2-13.
(b) The commission shall establish an account for reimbursing
landowners for damages incurred through the use of the landowners'
land for flood storage. The account consists of money transferred from
the segregated account described in subsection (a). The commission
may transfer amounts considered appropriate by the commission.

Legislative History

As added by P.L.282-2019, SEC.8.