§ 5-1-17-25 — Bonds; maximum amount; conditions

Indiana § 5-1-17-25

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 1: BONDS AND OTHER OBLIGATIONS
• Ch. 17: Indiana Stadium and Convention Building Authority

Text

The authority shall not issue bonds in a
principal amount exceeding five hundred million dollars
($500,000,000) to finance any capital improvement in Marion County
unless:
(1) on or before June 30, 2005, the county fiscal body:
(A) increases the rate of the tax authorized by IC 6-6-9.7 by the
maximum amount authorized by IC 6-6-9.7-7(c);
(B) increases the rate of the tax authorized by IC 6-9-8 by the
maximum amount authorized by IC 6-9-8-3(d);
(C) increases the rate of tax authorized by IC 6-9-12 by the
maximum amount authorized by IC 6-9-12-5(b); and
(D) increases the rate of the tax authorized by IC 6-9-13 by the
maximum amount authorized by IC 6-9-13-2(b); and
(2) on or before October 1, 2005, the budget director makes a
determination under IC 36-7-31-14.1 to increase the amount of
money captured in a tax area established under IC 36-7-31 by up
to eleven million dollars ($11,000,000) per year, commencing
July 1, 2007.

Legislative History

As added by P.L.214-2005, SEC.6. Amended by P.L.104-2022, SEC.13.