§ 36-9-30-16 — Preliminary expenses; payment; procedure; reimbursement of fund

(a) All or part of the necessary preliminary
expenses that are incurred by a board and must be paid before the
issuance and delivery of revenue bonds under this chapter may be paid
in the manner provided by this section.
(b) The board may certify the items of expense to the fiscal officer
of the unit, who shall immediately draw a warrant or warrants to be
paid out of the unappropriated part of the general fund of the unit,
without a special appropriation being made. If the unit has no
unappropriated money in its general fund, the fiscal officer shall
recommend to the fiscal body of the unit:
(1) the temporary transfer from other funds of a sufficient amount
to meet the items of expense; or
(2) the making of a temporary loan for that purpose.
The fiscal body shall immediately make the transfer or authorize the
temporary loan.
(c) The fund or funds from which the payments are made shall be
fully reimbursed and repaid out of the first proceeds of the sale of
revenue bonds, and before any other disbursements are made from
those proceeds. The amount advanced to pay preliminary expenses is
a first charge against the proceeds resulting from the sale of the
revenue bonds until it has been repaid.
[Pre-Local Government Recodification Citation:
19-2-1-10.]
As added by Acts 1981, P.L.309, SEC.106.