Indiana § 6-9-20-8.8 Arena fund; deposits; use of excess revenue for arena fund

Indiana Statutes

§ 6-9-20-8.8 — Arena fund; deposits; use of excess revenue for arena fund

Indiana § 6-9-20-8.8

Art. 9INNKEEPER'S TAXES; OTHER LOCAL TAXES

Ch. 20Vanderburgh County Food and Beverage Tax

This text of Indiana § 6-9-20-8.8 (Arena fund; deposits; use of excess revenue for arena fund) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 6-9-20-8.8 (2026).

Text

8.

(a)If the tax imposed under section 3 of this chapter is continued to finance the acquisition, construction, and equipping of an arena and other facilities that serve or support the arena activities, the county treasurer shall determine whether there is any food and beverage tax revenue under this chapter that is not required to be deposited and held to:

(1)pay any debt service on bonds issued or rentals on leases entered into by January 1, 2009, for which a pledge of revenues of the food and beverage tax has been made by the county as set forth in section 8.7 of this chapter; or

(2)provide for a debt service reserve related to the bonds or leases described in subdivision (1).

(b)Before the twentieth day of each month, the county treasurer shall determine whether there is excess foo

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8. (a) If the tax imposed under section 3 of this
chapter is continued to finance the acquisition, construction, and
equipping of an arena and other facilities that serve or support the
arena activities, the county treasurer shall determine whether there is
any food and beverage tax revenue under this chapter that is not
required to be deposited and held to:
(1) pay any debt service on bonds issued or rentals on leases
entered into by January 1, 2009, for which a pledge of revenues
of the food and beverage tax has been made by the county as set
forth in section 8.7 of this chapter; or
(2) provide for a debt service reserve related to the bonds or
leases described in subdivision (1).
(b) Before the twentieth day of each month, the county treasurer
shall determine whether there is excess food and beverage tax revenue
under subsection (a) and by the last day of that month transfer the
excess food and beverage tax revenue to the fiscal officer of the most
populated municipality in the county. The municipal fiscal officer shall
deposit the excess food and beverage tax revenue in a municipal arena
fund. Any money earned from the investment of money in the
municipal arena fund becomes a part of the municipal arena fund.
Money in the municipal arena fund shall be used by the most populated
municipality in the county for financing the acquisition, construction,
and equipping of an arena and other facilities that serve or support the
arena activities. This money shall be retained in the municipal arena
fund until applied or transferred to another fund pledged to the
payment of debt service on bonds, rent on leases, or other obligations
incurred to finance the facilities.