§ 36-9-13-38 — Handling of funds; employees' bonds

Indiana § 36-9-13-38

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

Text

(a) Except as otherwise provided in this
chapter, all money coming into possession of the building authority
shall be deposited, held, and secured in accordance with the general
statutes concerning the handling of public funds. The handling and
expenditure of money coming into possession of the authority is subject
to audit and supervision by the state board of accounts.
(b) Any employee of the building authority authorized to receive,
disburse, or in any other way handle money or negotiable securities of
the authority shall execute a bond payable to the state, with surety to
consist of a surety or guaranty corporation qualified to do business in
Indiana. The bond must be in an amount determined by the board of
directors of the authority and must be conditioned upon the faithful
performance of the employee's duties and the accounting for all money
and property that may come into the employee's hands or under the
employee's control. The cost of the bond shall be paid by the authority.
[Pre-Local Government Recodification Citation: 19-8-4-26
part.]
As added by Acts 1981, P.L.309, SEC.86. Amended by
P.L.127-2017, SEC.311.