Indiana § 36-9-11.1-17 Deposits of department funds; separate account books and special
accounts

Indiana Statutes

§ 36-9-11.1-17 — Deposits of department funds; separate account books and special accounts

Indiana § 36-9-11.1-17

Title 36LOCAL GOVERNMENT

Art. 9TRANSPORTATION AND PUBLIC WORKS

Ch. 11.1Parking Facilities in Marion County

This text of Indiana § 36-9-11.1-17 (Deposits of department funds; separate account books and special accounts) 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 § 36-9-11.1-17 (2026).

Text

(a)All gifts, donations, bequests, devises, and proceeds derived from the sale of bonds, from the disposition of property, or any payments received or paid to the department for off-street parking purposes shall be delivered to the fiscal officer of the consolidated city. The fiscal officer shall deposit them to the credit of the department, for the account for the parking facility entitled to them, or to its general fund, if not so allocated. All money remaining in each separate parking facility fund and in the general fund at the end of each calendar year continues to belong to those respective funds for use as provided in this chapter. All deposits of the department shall be kept in duly designated depositories for funds of the city.

(b)Separate books of account shall be kept for each

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(a) All gifts, donations, bequests, devises,
and proceeds derived from the sale of bonds, from the disposition of
property, or any payments received or paid to the department for
off-street parking purposes shall be delivered to the fiscal officer of the
consolidated city. The fiscal officer shall deposit them to the credit of
the department, for the account for the parking facility entitled to them,
or to its general fund, if not so allocated. All money remaining in each
separate parking facility fund and in the general fund at the end of each
calendar year continues to belong to those respective funds for use as
provided in this chapter. All deposits of the department shall be kept
in duly designated depositories for funds of the city.
(b) Separate books of account shall be kept for each parking facility
so long as there remain outstanding any bonds issued on account of the
acquisition or improvement of the facility. All net revenues derived
from any parking facility that are pledged to the payment of the interest
on and principal of certain bonds shall be deposited in a separate
special account appropriately set up and designated. The money in
these accounts shall be used solely for the payment of the interest on
and principal of the respective bonds as they fall due, and for no other
purposes, until the account contains an amount sufficient to pay the
interest on and principal of all bonds payable during the then current
calendar year and the interest on and principal of the bonds that will
become due during the next succeeding calendar year. Any amount in
excess of the amount required for that purpose may be used in the
purchase of bonds of that issue, if they can be purchased at less than
the then current redemption price, or if not, then for the redemption of
outstanding bonds of that issue in accordance with their provisions, all
as directed by the board.
As added by Acts 1982, P.L.77, SEC.13. Amended by
P.L.127-2017, SEC.298.