§ 36-6-1.5-11 — Transfer of funds to new township government

Indiana § 36-6-1.5-11

• Jurisdiction: Indiana
• Title 36: LOCAL GOVERNMENT
• Art. 6: GOVERNMENT OF TOWNSHIPS
• Ch. 1.5: Merger of Township Governments

Text

(a) On the date the formation of a new
township government takes effect, all money in the funds of each of the
former township governments is transferred to the new township
government. The new township government:
(1) shall deposit the money in its funds that most closely
correspond to the funds of the former township governments; and
(2) may use the money to pay its operational and capital costs for
the balance of the calendar year.
(b) After the date the formation of a new township government takes
effect, the new township government is entitled to receive all
distributions of taxes and other revenue that would have been made to
the former township governments if the merger had not occurred. The
new township government shall deposit the money in its funds that
correspond most closely to the funds of the former township
governments into which the taxes or other revenue would have been
deposited if the merger had not occurred.

Legislative History

As added by P.L.240-2005, SEC.3.