Indiana § 36-1.5-5-5 Appropriation and pledge of revenues

Indiana Statutes

§ 36-1.5-5-5 — Appropriation and pledge of revenues

Indiana § 36-1.5-5-5

Title 36LOCAL GOVERNMENT

Art. 1.5GOVERNMENT MODERNIZATION

Ch. 5Cooperative Agreements and Transfers of

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Bluebook

Ind. Code § 36-1.5-5-5 (2026).

Text

A cooperative agreement may provide that a political subdivision:

(1)may appropriate and pledge any legally available revenues to the payment of the bonds, leases, or other obligations of another political subdivision that is a party to the cooperative agreement; and

(2)will appropriate legally available revenues for any other payment under the cooperative agreement; if the political subdivision's fiscal body finds that it is necessary, desirable, and in the best interests of the residents of that political subdivision.

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A cooperative agreement may provide that a
political subdivision:
(1) may appropriate and pledge any legally available revenues to
the payment of the bonds, leases, or other obligations of another
political subdivision that is a party to the cooperative agreement;
and
(2) will appropriate legally available revenues for any other
payment under the cooperative agreement;
if the political subdivision's fiscal body finds that it is necessary,
desirable, and in the best interests of the residents of that political
subdivision.