§ 8-1.5-5-22 — Special benefit tax

Indiana § 8-1.5-5-22

• Jurisdiction: Indiana
• Art. 1.5: MUNICIPAL UTILITIES
• Ch. 5: Department of Storm Water Management

Text

(a) To raise the necessary revenues to pay for
the bonds issued and the interest on the bonds, the board:
(1) after approval by the fiscal body of the unit served by the
department, shall levy a special benefit tax upon all the property
of the storm water district in the amount necessary to meet and
pay the principal of the bonds as they severally mature, together
with all accruing interest; and
(2) shall certify the tax levied each year to the fiscal officer of the
unit served by the department at the same time and in the same
manner as other levies of the unit are certified.
The tax levied and certified shall be estimated and entered upon the tax
duplicate and shall be collected and enforced in the same manner as
state and county taxes are estimated, entered, and enforced.
(b) In fixing the amount of the necessary levy, the board:
(1) shall consider the amount of revenues derived by the board
from the operation of the storm water system under its jurisdiction
above the amount of revenues required to pay the cost of
operation and maintenance of the storm water system; and
(2) may, in lieu of making the levy in this section, set aside by
resolution a specific amount of the surplus revenues to be
collected before maturity of the principal and interest of the bonds
payable in the following calendar year.
(c) The special tax shall be deposited in the bond and interest
redemption account.

Legislative History

As added by P.L.125-1987, SEC.1. Amended by P.L.282-2003, SEC.17.