Indiana § 36-7.5-4.5-31 Distribution of remaining money upon completion

Indiana Statutes

§ 36-7.5-4.5-31 — Distribution of remaining money upon completion

Indiana § 36-7.5-4.5-31

Title 36LOCAL GOVERNMENT

Art. 7.5NORTHWEST INDIANA REGIONAL

Ch. 4.5Rail Transit Development Districts

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Bluebook

Ind. Code § 36-7.5-4.5-31 (2026).

Text

On the date that all financing obligations
for a development project in a district established in a member county
are no longer considered outstanding and all expenses incurred by the
development authority in connection with the exercise of the
development authority's duties and obligations set forth in this chapter
have been paid, all money remaining in each district's account (or
municipality's subaccount) in the south shore improvement and
development fund shall be distributed to the redevelopment
commission of the municipality in which each district is located, or to
the municipality if a redevelopment commission does not exist.

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On the date that all financing obligations
for a development project in a district established in a member county
are no longer considered outstanding and all expenses incurred by the
development authority in connection with the exercise of the
development authority's duties and obligations set forth in this chapter
have been paid, all money remaining in each district's account (or
municipality's subaccount) in the south shore improvement and
development fund shall be distributed to the redevelopment
commission of the municipality in which each district is located, or to
the municipality if a redevelopment commission does not exist.