§ 36-9-29.1-14 — Tax levy; flood control district bond fund

Indiana § 36-9-29.1-14

• Jurisdiction: Indiana
• Title 36: LOCAL GOVERNMENT
• Art. 9: TRANSPORTATION AND PUBLIC WORKS
• Ch. 29.1: Flood Control District in Marion County

Text

(a) For the purpose of raising money to pay
all bonds issued under section 12 of this chapter and the interest on
them, the city-county legislative body shall levy each year a special tax
upon all the property of the flood control district, in such manner as to
meet and pay the principal of the bonds as they severally mature,
together with all accruing interest. The tax so levied each year shall be
certified to the fiscal officers of the consolidated city and the county
before August 2 in each year.
(b) The tax levied and certified shall be estimated and entered upon
the tax duplicate by the county auditor, and shall be collected and
enforced by the county treasurer, in the same manner as state and
county taxes are estimated, entered, collected, and enforced. As the tax
is collected by the county treasurer, it shall be accumulated and kept in
a separate fund to be known as the "flood control district bond fund,"
and shall be applied to the payment of the flood control district bonds
and interest as they severally mature and to no other purpose. All
accumulations before their use for the payment of bonds and interest
shall be deposited, at interest, with the depository or depositories of
other funds in the consolidated city, and all interest collected on them
belongs to the fund.
As added by Acts 1982, P.L.77, SEC.24.