Indiana § 36-9-11.1-18 Payments to and from general fund of department

Indiana Statutes

§ 36-9-11.1-18 — Payments to and from general fund of department

Indiana § 36-9-11.1-18

Title 36LOCAL GOVERNMENT

Art. 9TRANSPORTATION AND PUBLIC WORKS

Ch. 11.1Parking Facilities in Marion County

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Bluebook

Ind. Code § 36-9-11.1-18 (2026).

Text

(a)Whenever all bonds and other obligations of any particular parking facility have been fully paid and discharged, any surplus in any fund allocated for that purpose reverts to the general fund of the department. The fund may be used to make up and pay any deficiency that may occur in any other fund for the payment of the bonds and interest issued for any other parking facility under the control of the department. This use of the general fund may continue until all outstanding bonds on all parking facilities have been fully paid.

(b)The board may also pay to the consolidated city in any year, from any available balance in the general fund of the department, such sum as it considers reasonable and that may be available to compensate the city for its loss of revenue in the annual taxes as

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(a) Whenever all bonds and other
obligations of any particular parking facility have been fully paid and
discharged, any surplus in any fund allocated for that purpose reverts
to the general fund of the department. The fund may be used to make
up and pay any deficiency that may occur in any other fund for the
payment of the bonds and interest issued for any other parking facility
under the control of the department. This use of the general fund may
continue until all outstanding bonds on all parking facilities have been
fully paid.
(b) The board may also pay to the consolidated city in any year,
from any available balance in the general fund of the department, such
sum as it considers reasonable and that may be available to compensate
the city for its loss of revenue in the annual taxes assessable on
property of the estimated current and equivalent value of that acquired
for all parking facilities, so long as they remain free of taxes.
As added by Acts 1982, P.L.77, SEC.13.