§ 36-10-11-29 — Governmental entity; tax levy to pay lease rental

Indiana § 36-10-11-29

• Jurisdiction: Indiana
• Title 36: LOCAL GOVERNMENT
• Art. 10: RECREATION, CULTURE, AND COMMUNITY
• Ch. 11: Gary Building Authority

Text

(a) The fiscal body of a governmental entity
that has entered into an approved lease under this chapter shall
annually levy a tax sufficient to produce each year the necessary
revenues that, with other available money, are sufficient to pay the
lease rental payable under the lease.
(b) In fixing and determining the amount of the necessary levy to
pay the lease rental, the fiscal body may take into consideration
amounts that have been transferred to the fund for payment of the lease
rental under section 16(e) of this chapter. This chapter does not relieve
the governmental entity from the obligation to pay from taxes the lease
rental or part of it if other funds are not available for that purpose. The
tax levies are reviewable by other bodies vested by statute with
authority to ascertain that the levies are sufficient to raise the amount
that, with other money available, will be sufficient to meet the rental
payable under the lease.
As added by Acts 1982, P.L.218, SEC.5.