§ 36-7-15.1-49 — Redevelopment district fund

Indiana § 36-7-15.1-49

• Jurisdiction: Indiana
• Title 36: LOCAL GOVERNMENT
• Art. 7: PLANNING AND DEVELOPMENT
• Ch. 15.1: Redevelopment of Areas in Marion County Needing

Text

(a) All proceeds of bonds issued under
section 45 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 50 of this
chapter.
(b) All gifts, donations, proceeds of sales, or other payments that are
given or paid to an excluded city or its commission 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 fifteenth day of each calendar month, the excluded
city fiscal officer shall notify the commission and the officers of the
excluded city who have duties in respect to the funds and accounts of
the excluded 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.

Legislative History

As added by P.L.102-1999, SEC.16.