Indiana § 36-7.5-3-6 Northwest Indiana regional development authority commuter rail
construction fund; establishment; uses

Indiana Statutes

§ 36-7.5-3-6 — Northwest Indiana regional development authority commuter rail construction fund; establishment; uses

Indiana § 36-7.5-3-6

Title 36LOCAL GOVERNMENT

Art. 7.5NORTHWEST INDIANA REGIONAL

Ch. 3Development Authority Powers and Duties

This text of Indiana § 36-7.5-3-6 (Northwest Indiana regional development authority commuter rail construction fund; establishment; uses) 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 § 36-7.5-3-6 (2026).

Text

(a)As used in this section, "fund" refers to the northwest Indiana regional development authority commuter rail construction fund established by subsection (b).

(b)The northwest Indiana regional development authority commuter rail construction fund is established within the treasury of the development authority as a restricted fund for the purpose of holding money to be used to provide matching grants for projects that:

(1)are related to the extension of the Chicago, South Shore, and South Bend Railway; and

(2)are approved by the development authority under this section.

(c)The fund consists of the following:

(1)Appropriations by the general assembly.

(2)Contributions received by the development authority under IC 36-7.5-4-1 and IC 36-7.5-4-2.

(3)Contributions of the local income t

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(a) As used in this section, "fund" refers to the
northwest Indiana regional development authority commuter rail
construction fund established by subsection (b).
(b) The northwest Indiana regional development authority commuter
rail construction fund is established within the treasury of the
development authority as a restricted fund for the purpose of holding
money to be used to provide matching grants for projects that:
(1) are related to the extension of the Chicago, South Shore, and
South Bend Railway; and
(2) are approved by the development authority under this section.
(c) The fund consists of the following:
(1) Appropriations by the general assembly.
(2) Contributions received by the development authority under IC 36-7.5-4-1 and IC 36-7.5-4-2.
(3) Contributions of the local income tax revenue received by the
fund in accordance with section 5 of this chapter.
(4) Federal grants.
(5) Gifts.
(d) The development authority shall administer the fund.
(e) Money in the fund that is not needed to satisfy the obligations of
the fund may be invested in the manner that other public money may
be invested. Interest or other investment returns received on
investments of money in the fund becomes part of the fund.
(f) Money in the fund may be disbursed from the fund only for the
following purposes:
(1) To pay debt service on bonds issued to fund construction
projects extending the Chicago, South Shore, and South Bend
Railway.
(2) To provide matching grants in accordance with the
requirements of this section.
(3) To pay the expenses of the development authority in
administering the fund.
(4) To return money to the entity that contributed the money to
correct an error in the contribution amount or because the money
is no longer needed for the purpose for which the money was
contributed.