§ 36-9-16-2 — Authorization of funds; purposes

Indiana § 36-9-16-2

• Jurisdiction: Indiana
• Title 36: LOCAL GOVERNMENT
• Art. 9: TRANSPORTATION AND PUBLIC WORKS
• Ch. 16: Municipal Cumulative Building or Sinking Fund and

Text

(a) A unit may establish a cumulative building
or sinking fund or cumulative capital improvement funds to provide
money for one (1) or more of the following purposes:
(1) To purchase, construct, equip, and maintain buildings for
public purposes.
(2) To acquire the land, and any improvements on it, that are
necessary for the construction of public buildings.
(3) To demolish any improvements on land acquired under this
section, and to level, grade, and prepare the land for the
construction of a public building.
(4) To acquire land or rights-of-way to be used as a public way or
other means of ingress or egress to land acquired for the
construction of a public building.
(5) To improve or construct any public way or other means of
ingress or egress to land acquired for the construction of a public
building.
(b) In addition to the purposes described in subsection (a), a
cumulative capital improvement fund may be used to purchase body
armor (as defined in IC 35-47-5-13(a)) for active members of a police
department under:
(1) IC 36-5-7-7;
(2) IC 36-8-4-4.5;
(3) IC 36-8-9-9; and
(4) IC 36-8-10-4.5.
(c) A municipality may establish a cumulative capital improvement
fund for a purpose described in IC 6-7-1-31.1.
[Pre-Local Government Recodification Citation: 18-6-1-1
part.]
As added by Acts 1981, P.L.309, SEC.89. Amended by
P.L.199-1988, SEC.5; P.L.8-2009, SEC.3; P.L.113-2010, SEC.152;
P.L.34-2010, SEC.9; P.L.42-2011, SEC.85.