§ 36-8-14-4 — Tax levy; deposit of money

(a) To provide for the cumulative building and
equipment fund established under this chapter, the legislative body may
levy a tax on all taxable property within the taxing district in
compliance with IC 6-1.1-41. The tax rate may not exceed three and
thirty-three hundredths cents ($0.0333) on each one hundred dollars
($100) of assessed valuation of property in the taxing district.
(b) As the tax is collected, it shall be deposited in a qualified public
depository or depositories and held in a special fund to be known as the
"building or remodeling, firefighting, and police radio equipment fund"
in the case of a municipality or as the "building or remodeling and fire
equipment fund" in the case of a township or fire protection district.
[Pre-Local Government Recodification Citations: 18-6-7-3;
18-6-9-3.]
As added by Acts 1981, P.L.309, SEC.66. Amended by
P.L.316-1989, SEC.3; P.L.171-1994, SEC.2; P.L.17-1995, SEC.23;
P.L.6-1997, SEC.213.