§ 36-8-15-18 — Counties having consolidated cities; special property tax; disposition of revenue; public communications systems and computer facilities district revenue fund

Indiana § 36-8-15-18

• Jurisdiction: Indiana
• Title 36: LOCAL GOVERNMENT
• Art. 8: PUBLIC SAFETY
• Ch. 15: Public Safety Communications Systems and Computer

Text

(a) This section applies to a county having
a consolidated city.
(b) For the purpose of raising money to pay off bonds issued under
section 15 of this chapter and any interest on them, the county fiscal
body may levy each year a special tax upon all of the property located
within the district, in such manner as to meet and pay the principal of
the bonds as they severally mature, together with all accruing interest
on them. Other revenues and funds may be annually allocated by
statute or ordinance to be applied to reduction of the bonds and their
interest for the next succeeding year, but to the extent that money on
hand is insufficient for payments required in the next succeeding year,
the special tax shall be levied.
(c) The tax collected and all other allocated money shall be
accumulated and kept in a separate fund to be known as the public
communications systems and computer facilities district revenue fund,
and shall be applied to the payment of the district bonds and interest as
they severally mature and fiscal agency charges for making such
payments and to no other purposes. All accumulations may be
deposited, at interest, with one (1) of the depositories of other funds of
the consolidated city, and all interest collected belongs to the fund.

Legislative History

As added by P.L.82-1985, SEC.3. Amended by P.L.225-1986, SEC.7.