Indiana § 8-1-11.1-10 Tax levy to pay for bonds; utility district bond fund

Indiana Statutes

§ 8-1-11.1-10 — Tax levy to pay for bonds; utility district bond fund

Indiana § 8-1-11.1-10

Art. 1UTILITIES GENERALLY

Ch. 11.1Department of Public Utilities of Consolidated City

This text of Indiana § 8-1-11.1-10 (Tax levy to pay for bonds; utility district bond fund) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 8-1-11.1-10 (2026).

Text

For the purpose of raising money to pay all
bonds issued as provided in section 8 of this chapter, and the interest
thereon, to the extent that moneys are not available therefor in the
judgment of the board of directors for utilities from the operations of
said utility plant or plants so owned by said city, the board of directors
for utilities, as an official board of said utility district, is hereby
empowered to levy, and shall levy each year, a special tax upon all the
property of said utility district in such manner as to meet and pay the
principal of said bonds as they severally mature, together with all
accruing interest thereon. Said board of directors shall cause said tax
so levied each year to be certified to the city controller of said city and
the auditor of the county in which s

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For the purpose of raising money to pay all
bonds issued as provided in section 8 of this chapter, and the interest
thereon, to the extent that moneys are not available therefor in the
judgment of the board of directors for utilities from the operations of
said utility plant or plants so owned by said city, the board of directors
for utilities, as an official board of said utility district, is hereby
empowered to levy, and shall levy each year, a special tax upon all the
property of said utility district in such manner as to meet and pay the
principal of said bonds as they severally mature, together with all
accruing interest thereon. Said board of directors shall cause said tax
so levied each year to be certified to the city controller of said city and
the auditor of the county in which said utility district is located, on or
before the first day of October of each year. Such tax so levied and
certified shall be estimated and entered upon the tax duplicate by the
auditor, and shall be collected and enforced by the county treasurer in
the same manner as state and county taxes are estimated, entered,
collected and enforced; and as such tax is so collected by the county
treasurer, it shall be accumulated and kept in a separate fund to be
known as the "Utility District Bond Fund," and shall be applied to the
payment of the aforesaid utility district bonds and interest as they
severally mature, and for no other purpose whatsoever: Provided, That
all accumulations of said fund prior to their use for the payment of such
bonds and interest shall be deposited, at interest, with the depository or
depositories of other public funds in such city, and all interest collected
thereon shall belong to such fund.
[Pre-Local Government Recodification Citation:
19-3-24-10.]
As added by Acts 1981, P.L.11, SEC.43.