§ 36-7-13-4 — Industrial development fund; tax levy

Indiana § 36-7-13-4

• Jurisdiction: Indiana
• Title 36: LOCAL GOVERNMENT
• Art. 7: PLANNING AND DEVELOPMENT
• Ch. 13: Industrial Development

Text

(a) To provide money for the purposes set forth
in section 3 of this chapter, the unit shall create a special revolving
fund to be known as the industrial development fund, into which any
available and unappropriated money of the unit may be transferred by
the unit's legislative body.
(b) The legislative body may also by ordinance levy a tax not to
exceed one and sixty-seven hundredths cents ($0.0167) on each one
hundred dollars ($100) of assessed value of all personal and real
property within its jurisdiction. The proceeds of this tax shall be
deposited in the industrial development fund. The unit may collect the
tax as other municipal or county taxes are collected, or may set up a
system for the collection and enforcement of the tax in the unit. Money
in the industrial development fund may be used for any purpose
authorized by this chapter and may be pledged for the payment of
principal and interest on bonds or other obligations issued under this
chapter.
[Pre-Local Government Recodification Citation:
18-7-14-4.]
As added by Acts 1981, P.L.309, SEC.32. Amended by Acts
1981, P.L.310, SEC.77; P.L.262-1993, SEC.3; P.L.6-1997, SEC.208;
P.L.125-1998, SEC.10; P.L.125-1998, SEC.11; P.L.203-2005,
SEC.8.