§ 36-9-4-42 — Funding

(a) A municipality or a public transportation
corporation that expends money for the establishment or maintenance
of an urban mass transportation system under this chapter may acquire
the money for these expenditures:
(1) by issuing bonds under section 43 or 44 of this chapter;
(2) by borrowing money made available for such purposes by any
source;
(3) by accepting grants or contributions made available for such
purposes by any source;
(4) in the case of a municipality, by appropriation from the
general fund of the municipality, or from a special fund that the
municipal legislative body includes in the municipality's budget;
or
(5) in the case of a public transportation corporation, by levying
a tax under section 49 of this chapter or by recommending an
election to use revenue from the local income tax, as provided in
subsection (c).
(b) Money may be acquired under this section for the purpose of
exercising any of the powers granted by or incidental to this chapter,
including:
(1) studies under section 4, 9, or 11 of this chapter;
(2) grants in aid;
(3) the purchase of buses or real property by a municipality for
lease to an urban mass transportation system, including the
payment of any amount outstanding under a mortgage, contract of
sale, or other security device that may attach to the buses or real
property;
(4) the acquisition by a public transportation corporation of
property of an urban mass transportation system, including the
payment of any amount outstanding under a mortgage, contract of
sale, or other security device that may attach to the property;
(5) the operation of an urban mass transportation system by a
public transportation corporation, including the acquisition of
additional property for such a system; and
(6) the retirement of bonds issued and outstanding under this
chapter.
(c) This subsection applies only to a public transportation
corporation located in a county having a consolidated city. In order to
provide revenue to a public transportation corporation during a year,
the public transportation corporation board may recommend and the
county fiscal body may elect to provide revenue to the corporation from
part of the certified distribution, if any, that the county is to receive
during that same year under IC 6-3.6-9. To make the election, the
county fiscal body must adopt an ordinance before November 1 of the
preceding year. The county fiscal body must specify in the ordinance
the amount of the certified distribution that is to be used to provide
revenue to the corporation. If such an ordinance is adopted, the county
fiscal body shall immediately send a copy of the ordinance to the
county auditor.
[Pre-Local Government Recodification Citation:
19-5-2-24.]
As added by Acts 1981, P.L.309, SEC.77. Amended by
P.L.84-1987, SEC.15; P.L.5-1988, SEC.221; P.L.137-2012, SEC.123;
P.L.197-2016, SEC.148.