§ 6-9-42-7 — City admissions tax fund; use of money in the fund

Indiana § 6-9-42-7

• Jurisdiction: Indiana
• Art. 9: INNKEEPER'S TAXES; OTHER LOCAL TAXES
• Ch. 42: Youth Sports Complex Admissions Tax

Text

(a) If a tax is imposed under this chapter, the
city fiscal body shall establish a city admissions tax fund.
(b) The city fiscal officer shall deposit money received under
section 6 of this chapter in the city admissions tax fund.
(c) Money earned from the investment of money in the city
admissions tax fund becomes a part of the fund.
(d) Money in the city admissions tax fund may be used by the city
only for the following:
(1) Costs to finance, construct, reconstruct, or improve:
(A) public thoroughfares or highways to improve ingress or
egress to and from the complex;
(B) infrastructure, including water and wastewater
improvements, serving the complex;
(C) the total cost of all land, rights-of-way, and other property
to be acquired by the city for the complex; and
(D) site preparation, drainage, landscaping, and lighting.
(2) All reasonable and necessary architectural, engineering, legal,
financing, accounting, advertising, bond discount, and
supervisory expenses related to the acquisition and development
of the property or the issuance of bonds.
(3) Payment of principal and interest on bonds issued, or lease
rentals on leases entered into, by the city to finance the
construction, reconstruction, or improvement identified under this
subsection. Costs payable under this section include costs of
capitalized interest and legal, accounting, and other costs incurred
in the issuance of any bonds or the entering into of any leases.
(4) Payment of any access or connection fee imposed on the
complex for access to the city's public sewer system, as long as
the fee applies to all property owners served and is uniformly
assessed within the city's corporate boundaries.

Legislative History

As added by P.L.182-2009(ss), SEC.262.