Indiana § 36-7.5-4-22 Lake County; commuter rail extensions and improvements; failure to
file proper application for federal funding

Indiana Statutes

§ 36-7.5-4-22 — Lake County; commuter rail extensions and improvements; failure to file proper application for federal funding

Indiana § 36-7.5-4-22

Title 36LOCAL GOVERNMENT

Art. 7.5NORTHWEST INDIANA REGIONAL

Ch. 4Financing; Issuance of Bonds; Leases

This text of Indiana § 36-7.5-4-22 (Lake County; commuter rail extensions and improvements; failure to file proper application for federal funding) 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 § 36-7.5-4-22 (2026).

Text

(a)Subject to subsection (b), if, before December 31, 2020, the proper applications for federal funding necessary and desired to complete commuter rail extensions and improvements described in an interlocal agreement entered into by Lake County units to support the extension and improvement of rail services have not been filed, after satisfaction of all obligations and liabilities that have been incurred, all resources on deposit to the credit of an account established by section 1(d) of this chapter must be distributed to each participating unit, entity, and nonentity donor based on the ratio of the contributions of each participating unit, entity, and nonentity donor to the total amount on deposit to the credit of the account.

(b)If the purposes of an interlocal agreement entered into

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(a) Subject to subsection (b), if, before
December 31, 2020, the proper applications for federal funding
necessary and desired to complete commuter rail extensions and
improvements described in an interlocal agreement entered into by
Lake County units to support the extension and improvement of rail
services have not been filed, after satisfaction of all obligations and
liabilities that have been incurred, all resources on deposit to the credit
of an account established by section 1(d) of this chapter must be
distributed to each participating unit, entity, and nonentity donor based
on the ratio of the contributions of each participating unit, entity, and
nonentity donor to the total amount on deposit to the credit of the
account.
(b) If the purposes of an interlocal agreement entered into by Lake
County units to support the extension and improvement of rail services
are achieved or abandoned, after allowing for any encumbrances and
other lawful payables, any remaining balance in an account established
by section 1(d) of this chapter that is unobligated, unassigned, and
unreserved must be distributed to each participating unit, entity, and
nonentity donor based on the ratio of the contributions of each
participating unit, entity, and nonentity donor to the total amount on
deposit to the credit of the account. After making the distributions, the
fund must be defeased.