§ 36-9-17-5 — Appropriations; tax levies

(a) Subject to tax limitations and to the review
of appropriations and tax levies, the legislative body of a municipality
that establishes a general improvement fund may appropriate money
from the general fund of the municipality and transfer that money to the
general improvement fund, levy a tax for the benefit and use of the
general improvement fund in compliance with the procedures for a levy
for a cumulative fund under IC 6-1.1-41, or both.
(b) During the year in which a municipality establishes a general
improvement fund, the municipal legislative body may make an
emergency appropriation from the general fund of the municipality and
transfer that appropriation to the general improvement fund in the
manner prescribed by statute for the making of emergency
appropriations.
(c) Any sum may be appropriated or levied under this section in any
one (1) year, but the aggregate sum that may be appropriated and levied
under this section, including emergency appropriations under
subsection (b), may not exceed the equivalent of sixteen and
sixty-seven hundredths cents ($0.1667) on each one hundred dollars
($100) net taxable valuation of property in the municipality.
[Pre-Local Government Recodification Citation: 18-6-3-4
part.]
As added by Acts 1981, P.L.309, SEC.90. Amended by
P.L.17-1995, SEC.36; P.L.6-1997, SEC.222.