§ 36-9-15.5-8 — Cumulative capital development fund; transfer between funds; expenditures

Indiana § 36-9-15.5-8

• Jurisdiction: Indiana
• Title 36: LOCAL GOVERNMENT
• Art. 9: TRANSPORTATION AND PUBLIC WORKS
• Ch. 15.5: Municipal Cumulative Capital Development Fund

Text

(a) The tax money collected under this
chapter shall be held in a special fund to be known as the cumulative
capital development fund.
(b) In a consolidated city, money may be transferred from the fund
to the fund of a department of the consolidated city responsible for
carrying out a purpose for which the cumulative capital development
fund was created. The department may not expend any money so
transferred until an appropriation is made and the department may not
expend any money so transferred for operating costs of the department.
(c) Money held in the cumulative capital development fund may be
spent for purposes other than the purposes stated in section 2 of this
chapter, if the purpose is to protect the public health, welfare, or safety
in an emergency situation that demands immediate action or to make
a contribution to an authority established under IC 36-7-23. Money
may be spent under the authority of this subsection only after the
executive of the municipality:
(1) issues a declaration that the public health, welfare, or safety
is in immediate danger that requires the expenditure of money in
the fund; or
(2) certifies in the minutes of the municipal legislative body that
the contribution is made to the authority for capital development
purposes.

Legislative History

As added by P.L.44-1984, SEC.17. Amended by P.L.82-1985, SEC.6; P.L.346-1989(ss), SEC.9; P.L.17-1995, SEC.34.