§ 36-10-9-8 — Annual budget; capital improvement; issuance of bonds

(a) The board shall prepare a budget for each
calendar year covering the projected operating expenses, projected
expenditures for capital improvements or land acquisition, and
estimated income to pay the operating expenses and capital
expenditures, including amounts, if any, to be received from excise
taxes and ad valorem property taxes. It shall submit the operating and
capital budget for review, approval, or rejection to the city-county
legislative body. The board may make expenditures only as provided
in the budget as approved, unless additional expenditures are approved
by the legislative body. However, payments to users of any capital
improvement that constitute a contractual share of box office receipts
are neither an operating expense nor an expenditure within the meaning
of this section.
(b) If the board desires to finance a capital improvement in whole
or in part by the issuance of bonds under section 12 or 15 of this
chapter, the board shall submit the following information to the
city-county legislative body at least thirty (30) days before the adoption
of a resolution authorizing the issuance of the bonds:
(1) A description of the project to be financed through the
issuance of bonds.
(2) The total amount of the project anticipated to be funded
through the issuance of bonds.
(3) The total amount of other anticipated revenue sources for the
project.
(4) Any other terms upon which the bonds will be issued.
(c) The city-county legislative body must discuss the information
provided in subsection (b) in a public hearing held before the
resolution may be adopted by the board.
(d) The board shall post the board's proposed budget and adopted
budget on the board's Internet web site.
As added by Acts 1982, P.L.77, SEC.28. Amended by
P.L.42-1994, SEC.14; P.L.182-2009(ss), SEC.455.