This text of Indiana § 36-8-19-8.5 (Equipment replacement fund; property tax levy; maximum property tax
rate) 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.
5.
(a)Participating units may agree to
establish an equipment replacement fund under this section to be used
to purchase fire protection equipment, including housing, that will be
used to serve the entire territory. To establish the fund, the legislative
bodies of each participating unit must adopt an ordinance (in the case
of a county or municipality) or a resolution (in the case of a township
or fire protection district), and the following requirements must be met:
(1)The ordinance or resolution is identical to the ordinances and
resolutions adopted by the other participating units under this
section.
(2)Before adopting the ordinance or resolution, each participating
unit must comply with the notice and hearing requirements of IC 6-1.1-41-3.
(3)The ordinance or resolution authorizes
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5. (a) Participating units may agree to
establish an equipment replacement fund under this section to be used
to purchase fire protection equipment, including housing, that will be
used to serve the entire territory. To establish the fund, the legislative
bodies of each participating unit must adopt an ordinance (in the case
of a county or municipality) or a resolution (in the case of a township
or fire protection district), and the following requirements must be met:
(1) The ordinance or resolution is identical to the ordinances and
resolutions adopted by the other participating units under this
section.
(2) Before adopting the ordinance or resolution, each participating
unit must comply with the notice and hearing requirements of IC 6-1.1-41-3.
(3) The ordinance or resolution authorizes the provider unit to
establish the fund.
(4) The ordinance or resolution includes at least the following:
(A) The name of each participating unit and the provider unit.
(B) An agreement to impose a uniform tax rate upon all of the
taxable property within the territory for the equipment
replacement fund.
(C) The contents of the agreement to establish the fund.
An ordinance or a resolution adopted under this section takes effect as
provided in IC 6-1.1-41.
(b) If a fund is established, the participating units may agree to:
(1) impose a property tax to provide for the accumulation of
money in the fund to purchase fire protection equipment;
(2) incur debt to purchase fire protection equipment and impose
a property tax to retire the loan; or
(3) transfer an amount from the fire protection territory fund to
the fire equipment replacement fund not to exceed five percent
(5%) of the levy for the fire protection territory fund for that year;
or any combination of these options.
(c) The property tax rate for the levy imposed under this section may
not exceed three and thirty-three hundredths cents ($0.0333) per one
hundred dollars ($100) of assessed value. Before debt may be incurred,
the fiscal body of a participating unit must adopt an ordinance (in the
case of a county or municipality) or a resolution (in the case of a
township or fire protection district) that specifies the amount and
purpose of the debt. The ordinance or resolution must be identical to
the other ordinances and resolutions adopted by the participating units.
Except as provided in subsection (d), if debt is to be incurred for the
purposes of a fund, the provider unit shall negotiate for and hold the
debt on behalf of the territory. However, the participating units and the
provider unit of the territory are jointly liable for any debt incurred by
the provider unit for the purposes of the fund. The most recent adjusted
value of taxable property for the entire territory must be used to
determine the debt limit under IC 36-1-15-6. A provider unit shall
comply with all general statutes and rules relating to the incurrence of
debt under this subsection.
(d) A participating unit of a territory may, to the extent allowed by
law, incur debt in the participating unit's own name to acquire fire
protection equipment or other property that is to be owned by the
participating unit. A participating unit that acquires fire protection
equipment or other property under this subsection may afterward enter
into an interlocal agreement under IC 36-1-7 with the provider unit to
furnish the fire protection equipment or other property to the provider
unit for the provider unit's use or benefit in accomplishing the purposes
of the territory. A participating unit shall comply with all general
statutes and rules relating to the incurrence of debt under this
subsection.
(e) Money in the fund may be used by the provider unit only for
those purposes set forth in the agreement among the participating units
that permits the establishment of the fund.
(f) The requirements and procedures specified in IC 6-1.1-41
concerning the establishment or reestablishment of a cumulative fund,
the imposing of a property tax for a cumulative fund, and the increasing
of a property tax rate for a cumulative fund apply to:
(1) the establishment or reestablishment of a fund under this
section;
(2) the imposing of a property tax for a fund under this section;
and
(3) the increasing of a property tax rate for a fund under this
section.
(g) Notwithstanding IC 6-1.1-18-12, if a fund established under this
section is reestablished in the manner provided in IC 6-1.1-41, the
property tax rate imposed for the fund in the first year after the fund is
reestablished may not exceed three and thirty-three hundredths cents
($0.0333) per one hundred dollars ($100) of assessed value.