Indiana § 36-7-15.1-18 Redevelopment district fund

Indiana Statutes

§ 36-7-15.1-18 — Redevelopment district fund

Indiana § 36-7-15.1-18

Title 36LOCAL GOVERNMENT

Art. 7PLANNING AND DEVELOPMENT

Ch. 15.1Redevelopment of Areas in Marion County Needing

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Bluebook

Ind. Code § 36-7-15.1-18 (2026).

Text

(a)All proceeds from the sale of bonds under section 17 of this chapter shall be kept as a separate and specific fund to pay the expenses incurred in connection with the acquisition and redevelopment of property. The fund shall be known as the redevelopment district fund. Any surplus of funds remaining after all expenses are paid shall be paid into and become a part of the redevelopment district bond fund established under section 19 of this chapter.

(b)All gifts, donations, proceeds of sales, or other payments that are given or paid to the department or to the consolidated city for redevelopment purposes shall be promptly deposited to the credit of the redevelopment district fund. The commission may use these gifts and donations for the purposes of this chapter.

(c)Before the eleventh

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(a) All proceeds from the sale of bonds
under section 17 of this chapter shall be kept as a separate and specific
fund to pay the expenses incurred in connection with the acquisition
and redevelopment of property. The fund shall be known as the
redevelopment district fund. Any surplus of funds remaining after all
expenses are paid shall be paid into and become a part of the
redevelopment district bond fund established under section 19 of this
chapter.
(b) All gifts, donations, proceeds of sales, or other payments that are
given or paid to the department or to the consolidated city for
redevelopment purposes shall be promptly deposited to the credit of the
redevelopment district fund. The commission may use these gifts and
donations for the purposes of this chapter.
(c) Before the eleventh day of each calendar month the city fiscal
officer shall notify the commission and the officers of the city who
have duties in respect to the funds and accounts of the city of the
amount standing to the credit of the redevelopment district fund at the
close of business on the last day of the preceding month.
As added by Acts 1982, P.L.77, SEC.8.