Indiana § 36-7.6-4-16 Transfers; failure to make transfer; duty of state treasurer

Indiana Statutes

§ 36-7.6-4-16 — Transfers; failure to make transfer; duty of state treasurer

Indiana § 36-7.6-4-16

Title 36LOCAL GOVERNMENT

Art. 7.6REGIONAL DEVELOPMENT AUTHORITIES

Ch. 4Financing; Issuance of Bonds; Leases

This text of Indiana § 36-7.6-4-16 (Transfers; failure to make transfer; duty of state treasurer) 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 § 36-7.6-4-16 (2026).

Text

(a)This section applies if the county or municipality fails to make a transfer or part of a transfer required by:

(1)section 2 of this chapter; or

(2)an interlocal agreement executed under section 3(h) of this chapter that is required to satisfy the county's or municipality's obligation to contribute to the satisfaction of outstanding bonds or other debt of the development authority.

(b)The treasurer of state shall do the following:

(1)Withhold an amount equal to the amount of the transfer or part of the transfer under section 2 of this chapter that the county or municipality failed to make from money in the possession of the state that would otherwise be available for distribution to the county or municipality under any other law.

(2)Pay the amount withheld under subdivision (1) to

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(a) This section applies if the county or
municipality fails to make a transfer or part of a transfer required by:
(1) section 2 of this chapter; or
(2) an interlocal agreement executed under section 3(h) of this
chapter that is required to satisfy the county's or municipality's
obligation to contribute to the satisfaction of outstanding bonds or
other debt of the development authority.
(b) The treasurer of state shall do the following:
(1) Withhold an amount equal to the amount of the transfer or part
of the transfer under section 2 of this chapter that the county or
municipality failed to make from money in the possession of the
state that would otherwise be available for distribution to the
county or municipality under any other law.
(2) Pay the amount withheld under subdivision (1) to the
development authority to satisfy the county's or municipality's
obligations to the development authority.