Indiana § 6-9-26-12 Use of funds

Indiana Statutes

§ 6-9-26-12 — Use of funds

Indiana·Art. 9 INNKEEPER'S TAXES; OTHER LOCAL TAXES·Ch. 26 Madison County Food and Beverage Tax

(a)Except as provided in section 12.5 of this chapter, money in the county economic development project fund shall be used by the county solely to:

(1)finance, construct, improve, equip, operate, maintain, and promote first, a civic center, and then an economic development project, if there is money not needed for a civic center, approved under section 13 of this chapter; and

(2)retire bonds issued, loans obtained, or lease payments incurred under IC 36-1-10 (referred to in this chapter as "obligations") to finance, construct, improve, equip, operate, maintain, or promote first, a civic center, and then an economic development project approved under section 13 of this chapter.

(b)Obligations entered into for the purposes described in subsection

(a)shall be retired by using money colle

Free access — add to your briefcase to read the full text and ask questions with AI

(a) Except as provided in section 12.5 of this
chapter, money in the county economic development project fund shall
be used by the county solely to:
(1) finance, construct, improve, equip, operate, maintain, and
promote first, a civic center, and then an economic development
project, if there is money not needed for a civic center, approved
under section 13 of this chapter; and
(2) retire bonds issued, loans obtained, or lease payments incurred
under IC 36-1-10 (referred to in this chapter as "obligations") to
finance, construct, improve, equip, operate, maintain, or promote
first, a civic center, and then an economic development project
approved under section 13 of this chapter.
(b) Obligations entered into for the purposes described in subsection
(a) shall be retired by using money collected from a tax imposed under
this chapter.

Indiana § 6-9-26-12 (Use of funds) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.