§ 36-10-10-25 — Handling and expenditure of funds; audit; employment of construction manager; surety bonds of officers and employees

Indiana § 36-10-10-25

• Jurisdiction: Indiana
• Title 36: LOCAL GOVERNMENT
• Art. 10: RECREATION, CULTURE, AND COMMUNITY
• Ch. 10: Civic Center Building Authority in South Bend or

Text

(a) Unless provided otherwise, all funds
coming into possession of the authority shall be deposited, held, and
secured or invested in accordance with the general statutes relating to
the handling of public funds. The handling and expenditure of funds
coming into possession of the authority is subject to audit and
supervision by the state board of accounts. All contracts for
construction and equipment of any building shall be let in accordance
with the general statutes relating to public contracts.
(b) The board may employ a construction manager in connection
with the project in the same manner as other professional advisers are
employed.
(c) Any officer or employee of the authority authorized to receive,
disburse, or in any way handle funds or negotiable securities of the
authority shall execute a bond payable to the state, with surety to
consist of a surety or guaranty corporation qualified to do business in
Indiana, in an amount determined by the board. The bond shall be
conditioned upon the faithful performance of the officer's or employee's
duties and the accounting for all money and property that may come
into the officer's or employee's hands or under the officer's or
employee's control. The cost of the bonds shall be paid out of funds of
the authority.
(d) The records of the authority are public records.
As added by Acts 1982, P.L.218, SEC.4. Amended by
P.L.127-2017, SEC.390.