§ 36-7-31.3-19 — Use of funds

Indiana § 36-7-31.3-19

• Jurisdiction: Indiana
• Title 36: LOCAL GOVERNMENT
• Art. 7: PLANNING AND DEVELOPMENT
• Ch. 31.3: Professional Sports Development Area

Text

The resolution establishing the tax area
must designate the use of the funds. The funds are to be used only for
the following:
(1) Except in a tax area in:
(A) the city of Fort Wayne; or
(B) the city of Gary;
a capital improvement that will construct or equip a facility
owned by the city, the county, a school corporation, or a board
under IC 36-9-13, IC 36-10-8, IC 36-10-10, or IC 36-10-11 and
used by a professional sports franchise for practice or competitive
sporting events. In a tax area to which this subdivision applies,
funds may also be used for a capital improvement that will
construct or equip a facility owned by the city, the county, or a
board under IC 36-9-13, IC 36-10-8, IC 36-10-10, or IC 36-10-11
and used for any purpose specified in section 8(a)(2) of this
chapter.
(2) In the city of Fort Wayne, a capital improvement that will
construct or equip a facility owned by the city, the county, a
school corporation, or a board under IC 36-9-13, IC 36-10-8, IC 36-10-10, or IC 36-10-11 and used for any purpose specified in
section 8(a) of this chapter.
(3) In the city of Gary, a capital improvement that will construct
or equip a facility owned by the city, the county, or a board under
IC 36-9-13, IC 36-10-8, IC 36-10-10, or IC 36-10-11 and used for
any purpose specified in section 8(a)(1) or 8(a)(2) of this chapter.
(4) The financing or refinancing of a capital improvement
described in subdivision (1), (2), or (3) or the payment of lease
payments for a capital improvement described in subdivision (1),
(2), or (3).

Legislative History

As added by P.L.255-1997(ss), SEC.20. Amended by P.L.178-2002, SEC.131; P.L.64-2004, SEC.37; P.L.119-2012, SEC.213; P.L.104-2022, SEC.195.