Indiana § 36-8-7-15 Insufficient funds for appropriations; loans; tax levy to repay loans

Indiana Statutes

§ 36-8-7-15 — Insufficient funds for appropriations; loans; tax levy to repay loans

Indiana·Title 36 LOCAL GOVERNMENT·Art. 8 PUBLIC SAFETY·Ch. 7 1937 Firefighters' Pension Fund

If the appropriations for any of the purposes
contemplated in section 14 of this chapter are exhausted before the end
of the fiscal year for which the appropriations have been made, the
unit's fiscal body shall make the necessary additional appropriations
according to IC 6-1.1-18-5. If the amount of money in the general fund
not otherwise appropriated is less than the additional appropriations
found to be necessary, the fiscal body shall borrow the necessary
money in the manner prescribed by statute for making loans by the unit.
A tax shall be levied for the next year sufficient to repay the loan and
the interest that has accrued.
[Pre-Local Government Recodification Citation: 19-1-37-16
part.]
As added by Acts 1981, P.L.309, SEC.57.

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If the appropriations for any of the purposes
contemplated in section 14 of this chapter are exhausted before the end
of the fiscal year for which the appropriations have been made, the
unit's fiscal body shall make the necessary additional appropriations
according to IC 6-1.1-18-5. If the amount of money in the general fund
not otherwise appropriated is less than the additional appropriations
found to be necessary, the fiscal body shall borrow the necessary
money in the manner prescribed by statute for making loans by the unit.
A tax shall be levied for the next year sufficient to repay the loan and
the interest that has accrued.
[Pre-Local Government Recodification Citation: 19-1-37-16
part.]
As added by Acts 1981, P.L.309, SEC.57.

Indiana § 36-8-7-15 (Insufficient funds for appropriations; loans; tax levy to repay loans) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.