§ 36-9-13-22.5 — Management contract; terms; annual budget; tax levy

Indiana § 36-9-13-22.5

• Jurisdiction: Indiana
• Title 36: LOCAL GOVERNMENT
• Art. 9: TRANSPORTATION AND PUBLIC WORKS
• Ch. 13: County Building Authority

Text

5. The authority may operate, maintain, and
manage all or any part of a government building or system for the
benefit of an eligible entity under a management contract entered into
for a period of not more than forty (40) years. The management
contract may contain any terms agreed to by the authority and the
eligible entity, including a covenant of the eligible entity to pay the
authority a monthly fee for costs of operation and maintenance of the
government building or system pursuant to the annual budget
submitted to the governing body by the authority in accordance with
the management contract. The annual budget may contain funds for a
working balance and funds for a reserve account for nonrecurring
general maintenance, improvement, or replacement costs as provided
in the management contract. The eligible entity may enter into the
contract through adoption of an ordinance, an order, or a resolution of
the entity's governing body or, in the case of a city, a resolution of the
board that is responsible for the government building or system. No
other approvals of the management contract are required. To the extent
provision for payment from other available revenues has not been made
and subject to the provisions of the management contract for
cancellation or termination, the governing body of the eligible entity
that executes a management contract shall annually levy a tax sufficient
to produce each year the necessary money with which to pay the
management fee required by the budget submitted by the authority.
These levies may be reviewed by other bodies vested by law with that
power to determine that the annual levies are sufficient to raise the
amount required to meet the management fee under the contract.

Legislative History

As added by P.L.35-1990, SEC.64.