§ 6-9-33-8 — Supplemental coliseum improvement fund; food and beverage tax fund; excess revenue

Indiana § 6-9-33-8

• Jurisdiction: Indiana
• Art. 9: INNKEEPER'S TAXES; OTHER LOCAL TAXES
• Ch. 33: Allen County Supplemental Food and Beverage Tax

Text

(a) If a tax is imposed under section 3 of this
chapter, the county treasurer shall establish a supplemental coliseum
improvement fund. The county treasurer shall deposit in this fund all
amounts received from the tax imposed under this chapter. Money in
this fund:
(1) may be appropriated only to retire or advance refund bonds
issued, loans obtained, or lease payments incurred under IC 36-1-10 (referred to in this chapter as "obligations") to remodel,
expand, improve, or acquire an athletic and exhibition coliseum
in existence before the effective date of an ordinance adopted
under section 3 of this chapter; and
(2) shall be used to make transfers required by subsection (b).
(b) There is established a food and beverage tax fund, with a food
and beverage tax reserve account, both to be administered by the
capital improvement board of managers (IC 36-10-8). The money that
is deposited in the supplemental coliseum improvement fund after
December 31, 2009, and is not needed in a year to make payments on
obligations for which a pledge of revenue under this chapter was made
before January 1, 2009, shall be transferred to the capital improvement
board. The county treasurer shall make the transfer before February 1
of the following year. The capital improvement board shall deposit the
money it receives in the board's food and beverage tax fund reserve
account. Money in the reserve account may not be withdrawn or
transferred during the year it is received except to make transfers back
to the county to make payments on obligations for which a pledge of
revenue under this chapter was made before January 1, 2009. However,
the capital improvement board may transfer:
(1) interest earned on money in the reserve account; and
(2) an amount equal to the balance that has been held in the
reserve account for at least twelve (12) months;
to the board's food and beverage tax fund and used as provided in
subsection (c).
(c) Excess revenue transferred under subsection (b) to the capital
improvement board of managers may be used to provide funding for:
(1) the construction of a capital improvement (as defined in IC 36-10-1-4);
(2) an economic development project as described in:
(A) IC 6-3.6-2-8(1) or IC 6-3.6-2-8(2)(A) through IC 6-3.6-2-8(2)(I); and
(B) IC 6-3.6-2-8(2)(K); or
(3) financing a capital improvement or an economic development
project described in subdivision (1) or (2).
In carrying out this subsection, the capital improvement board may
borrow against future tax revenue that will be collected under this
chapter. In addition, the capital improvement board may use an amount
not to exceed one hundred thousand dollars ($100,000) annually from
the tax revenue collected under this chapter to pay expenses related to
investigating a potential capital improvement or economic
development project, including feasibility and preliminary engineering
studies related to such a capital improvement or economic development
project.
(d) Excess revenue transferred under subsection (b) to the capital
improvement board of managers may not be used to:
(1) provide funding for improvements initiated before January 1,
2009, that are located in the area bounded on the north by
Jefferson Boulevard, on the east by Harrison Street, on the south
by Breckenridge Street, and on the west by Ewing Street as those
public ways were located on January 1, 2009, as part of the
Harrison Square project;
(2) provide for debt service or lease payments for a project for
which the obligations for the project were incurred before January
1, 2009; or
(3) pay operational expenses for any facilities of the municipality.

Legislative History

As added by P.L.8-2000, SEC.3. Amended by P.L.176-2009, SEC.18; P.L.229-2011, SEC.98; P.L.137-2012, SEC.111; P.L.197-2016, SEC.80.