§ 15-14-1-12 — County allowance to association; lien; repayment

Indiana § 15-14-1-12

• Jurisdiction: Indiana
• Art. 14: AGRICULTURAL FAIRS, ASSOCIATIONS, AND
• Ch. 1: Organization of Interstate Fairs

Text

(a) As used in this section, "county
executive" means the board of commissioners of a county elected under
IC 36-2-2-2.
(b) The county executive may make an allowance out of the general
fund of the county to a corporation incorporated under this chapter.
(c) Before an allowance under subsection (b) is made, the president
or secretary of the association shall file a sworn statement with the
county executive showing the:
(1) name and date of organization of the association; and
(2) amount expended for fairgrounds and permanent
improvements needed for the fairgrounds and the amount
necessary to complete the improvements.
(d) After receiving a sworn statement under subsection (c), the
county executive may make an allowance that the county executive
considers necessary, but that does not exceed either of the following:
(1) Ten thousand dollars ($10,000).
(2) One-half (1/2) the amount shown by the statement to be
expended on the grounds and improvements.
(e) The amount appropriated under this section is a lien on the real
and personal property of the association.
(f) Dividends may not be declared or paid to the incorporators or
stockholders until the appropriation made by the board is repaid to the
county treasurer with interest.
[Pre-2008 Recodification Citation: 15-1-2-12.]

Legislative History

As added by P.L.2-2008, SEC.5. Amended by P.L.86-2008, SEC.8.