Indiana § 36-10-3-26 Bonds; disposition of proceeds

Indiana Statutes

§ 36-10-3-26 — Bonds; disposition of proceeds

Indiana·Title 36 LOCAL GOVERNMENT·Art. 10 RECREATION, CULTURE, AND COMMUNITY·Ch. 3 General Park and Recreation Law

All proceeds from the sale of bonds issued
under section 24 of this chapter shall be kept in a separate fund. The
fund shall be used to pay for land and other property acquired and for
the construction of a work under the resolution, including all costs and
expenses incurred in connection with the project. The fund may not be
used for any other purpose. The fund shall be deposited as provided in
this chapter. A surplus remaining from the proceeds of the bonds after
all costs and expenses are paid shall be paid into and becomes a part of
the park district bond fund.
[Pre-Local Government Recodification Citation:
19-7-4-41.]
As added by Acts 1981, P.L.309, SEC.110.

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All proceeds from the sale of bonds issued
under section 24 of this chapter shall be kept in a separate fund. The
fund shall be used to pay for land and other property acquired and for
the construction of a work under the resolution, including all costs and
expenses incurred in connection with the project. The fund may not be
used for any other purpose. The fund shall be deposited as provided in
this chapter. A surplus remaining from the proceeds of the bonds after
all costs and expenses are paid shall be paid into and becomes a part of
the park district bond fund.
[Pre-Local Government Recodification Citation:
19-7-4-41.]
As added by Acts 1981, P.L.309, SEC.110.

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