§ 36-7-15.5-21 — Improvement and maintenance district fund; establishment; deposits and expenditures

Indiana § 36-7-15.5-21

• Jurisdiction: Indiana
• Title 36: LOCAL GOVERNMENT
• Art. 7: PLANNING AND DEVELOPMENT
• Ch. 15.5: Improvement and Maintenance District for Indiana

Text

(a) After an improvement and maintenance
district is established under this chapter, the legislative body may
establish an improvement and maintenance district fund (referred to in
this chapter as the "fund").
(b) The following shall be deposited in the fund:
(1) Money resulting from the assessment levy imposed in
accordance with this chapter.
(2) Any appropriation made by the legislative body.
(3) Financial contributions from the state or any municipal
corporation received under section 16 of this chapter.
(4) Financial contributions from any source.
(c) Expenditures from the fund may be made only by appropriation
of the legislative body.
(d) Money in the fund may not be expended for any activity other
than those set forth in the resolution establishing the improvement and
maintenance district.
(e) Money in the fund shall be deposited with the depository 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. All interest collected belongs to the fund.

Legislative History

As added by P.L.194-1988, SEC.1.