Indiana § 36-10-7.5-24 Funds from bond proceeds; use; surplus

Indiana Statutes

§ 36-10-7.5-24 — Funds from bond proceeds; use; surplus

Indiana § 36-10-7.5-24

Title 36LOCAL GOVERNMENT

Art. 10RECREATION, CULTURE, AND COMMUNITY

Ch. 7.5Township General Park and Recreation Law

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Bluebook

Ind. Code § 36-10-7.5-24 (2026).

Text

All proceeds from the sale of bonds issued
under 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 district bond fund.

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All proceeds from the sale of bonds issued
under 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 district bond fund.