§ 6-9-1-4 — Management of funds; bonds

(a) Subject to subsection (b), all funds coming
into possession of the board of managers shall be deposited, held
secured, or invested and paid in accordance with the general laws of
the state relating to the handling of public funds. The handling and
expenditure of funds coming into possession of the board of managers
shall be subject to audit and supervision by the state board of accounts.
(b) Upon request by the Potawatomi Zoo, the board of managers
shall fully support and assist the Potawatomi Zoo to secure the issuance
of bonds from the applicable fiscal body up to a term of twenty (20)
years to pay any costs associated with the financing, construction,
renovation, improvement, and equipping of projects for the Potawatomi
Zoo. Any funds received as a result of issuing bonds under this section
shall be given to the Potawatomi Zoo, and the Potawatomi Zoo shall
have complete control over funds received as a result of issuing the
bonds. The board of managers may require that the Potawatomi Zoo
issue an annual report that:
(1) describes how funds are used to support a project; and
(2) provides a current update of a project's development.
(c) Bonds issued under this section must be repaid in accordance
with section 6.3(c) of this chapter.
Formerly: Acts 1972, P.L.58, SEC.1. As amended by
P.L.69-2021, SEC.1.