§ 6-9-27-9 — Town use of revenue; pledges to pay obligations

Indiana § 6-9-27-9

• Jurisdiction: Indiana
• Art. 9: INNKEEPER'S TAXES; OTHER LOCAL TAXES
• Ch. 27: Miscellaneous Local Food and Beverage Taxes

Text

(a) Except as provided in subsection (b), money
in the fund established under section 8 of this chapter shall be used by
the town for the financing, construction, operation, or maintenance of
the following:
(1) Sanitary sewers or wastewater treatment facilities.
(2) Park or recreational facilities.
(3) Drainage or flood control facilities.
(4) Water treatment, storage, or distribution facilities.
(b) The fiscal body of the town may pledge money in the fund to pay
bonds issued, loans obtained, and lease payments or other obligations
incurred by or on behalf of the town or a special taxing district in the
town to provide the facilities described in subsection (a).
(c) Subsection (b) applies only to bonds, loans, lease payments, or
obligations that are issued, obtained, or incurred after the date on which
the tax is imposed under section 3 of this chapter.
(d) A pledge under subsection (a) is enforceable under IC 5-1-14-4.

Legislative History

As added by P.L.35-1990, SEC.24. Amended by P.L.214-2005, SEC.41.