§ 6-9-27-9.5 — City use of revenue; pledges to pay obligations

Indiana § 6-9-27-9.5

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

Text

5. (a) A city shall use money in the fund
established under section 8.5 of this chapter for only the following:
(1) Renovating the city hall.
(2) Constructing new police or fire stations, or both.
(3) Improving the city's sanitary sewers or wastewater treatment
facilities, or both.
(4) Improving the city's storm water drainage systems.
(5) Other projects involving the city's water system or sanitary
sewer system or protecting the city's well fields, as determined by
the city fiscal body.
(b) The fiscal body of the city 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 city or a special taxing district in the city
to provide the projects 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 (b) is enforceable under IC 5-1-14-4.

Legislative History

As added by P.L.214-2005, SEC.42. Amended by P.L.184-2006, SEC.10; P.L.176-2009, SEC.16.