Indiana § 36-7-15.1-50 Tax on redevelopment district property; redevelopment district bond
fund

Indiana Statutes

§ 36-7-15.1-50 — Tax on redevelopment district property; redevelopment district bond fund

Indiana § 36-7-15.1-50

Title 36LOCAL GOVERNMENT

Art. 7PLANNING AND DEVELOPMENT

Ch. 15.1Redevelopment of Areas in Marion County Needing

This text of Indiana § 36-7-15.1-50 (Tax on redevelopment district property; redevelopment district bond fund) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 36-7-15.1-50 (2026).

Text

(a)This section applies only to:

(1)bonds that are issued under section 45 of this chapter; or

(2)leases entered into under section 46 of this chapter; that are payable from a special tax levied upon all of the property in the redevelopment district. This section does not apply to bonds or leases that are payable solely from tax proceeds allocated under section 53(b)(3) of this chapter, other revenues of the commission, or any combination of these sources.

(b)The excluded city legislative body shall levy each year a tax on all of the property of the redevelopment district in such a manner as to meet and pay:

(1)the principal of the bonds as they mature, together with all accruing interest on the bonds; or

(2)lease rental payments under section 46 of this chapter. The tax levied shall

Free access — add to your briefcase to read the full text and ask questions with AI

(a) This section applies only to:
(1) bonds that are issued under section 45 of this chapter; or
(2) leases entered into under section 46 of this chapter;
that are payable from a special tax levied upon all of the property in the
redevelopment district. This section does not apply to bonds or leases
that are payable solely from tax proceeds allocated under section
53(b)(3) of this chapter, other revenues of the commission, or any
combination of these sources.
(b) The excluded city legislative body shall levy each year a tax on
all of the property of the redevelopment district in such a manner as to
meet and pay:
(1) the principal of the bonds as they mature, together with all
accruing interest on the bonds; or
(2) lease rental payments under section 46 of this chapter.
The tax levied shall be certified to the fiscal officers of the excluded
city and the county before October 2 in each year. The tax shall be
estimated and entered on the tax duplicate by the county auditor and
shall be collected and enforced by the county treasurer in the same
manner as other state and county taxes are estimated, entered,
collected, and enforced.
(c) As the tax is collected, it shall be accumulated in a separate fund
to be known as the redevelopment district bond fund and shall be
applied to the payment of the bonds as they mature and the interest on
the bonds as it accrues, or to make lease payments, and to no other
purpose. All accumulations of the fund before use for the payment of
bonds and interest or to make lease payments shall be deposited with
the depository or depositories for other public funds of the city in
accordance with the statutes concerning the deposit of public funds,
unless they are invested under IC 5-13.
(d) The tax levies provided for in this section are reviewable by
other bodies vested by law with the authority to ascertain that the levies
are sufficient to raise the amount that, with other amounts available, is
sufficient to meet the payments under the lease payable from the levy
of taxes.