Indiana § 8-10-1-12 Indiana port fund; creation and administration

Indiana Statutes

§ 8-10-1-12 — Indiana port fund; creation and administration

Indiana § 8-10-1-12

Art. 10PORTS

Ch. 1Ports of Indiana─Organization

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Bluebook

Ind. Code § 8-10-1-12 (2026).

Text

(a)A special and distinct revolving fund is hereby created, to be known as the Indiana port fund. Expenditures from said fund shall be made only for the following:

(1)Acquisition of land, including lands under water and riparian rights, or options for the purchase of such land for a port or project site, and incidental expenses incurred in connection with such acquisition.

(2)Studies in connection with the port or project.

(3)Studies in connection with transportation by water, intermodal transportation, and other modes of transportation.

(4)Transfers to the fund established by IC 14-13-2-19 to carry out the purposes of IC 14-13-2.

(5)Administrative expenses of the ports of Indiana. The fund shall be held in the name of the ports of Indiana, shall be administered by the ports of India

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(a) A special and distinct revolving fund is
hereby created, to be known as the Indiana port fund. Expenditures
from said fund shall be made only for the following:
(1) Acquisition of land, including lands under water and riparian
rights, or options for the purchase of such land for a port or
project site, and incidental expenses incurred in connection with
such acquisition.
(2) Studies in connection with the port or project.
(3) Studies in connection with transportation by water, intermodal
transportation, and other modes of transportation.
(4) Transfers to the fund established by IC 14-13-2-19 to carry out
the purposes of IC 14-13-2.
(5) Administrative expenses of the ports of Indiana.
The fund shall be held in the name of the ports of Indiana, shall be
administered by the ports of Indiana, and all expenditures therefrom
shall be made by the ports of Indiana, subject, however, to the approval
by governor and the budget committee of all expenditures of moneys
advanced to said fund by the state of Indiana. Requests for such
approval shall be made in such form as shall be prescribed by the
budget committee, but expenditures for acquisition of land including
lands under water and riparian rights, or options for the purchase of
such land, shall be specifically requested and approved as to the land
to be acquired and the amount to be expended. No transfers from said
fund to any other fund of the state shall be made except pursuant to
legislative action.
(b) Upon the sale of revenue bonds for any port or project, the funds
expended from the Indiana port fund in connection with the
development of such port or project and any obligation or expense
incurred by the ports of Indiana for surveys, preparation of plans and
specifications, and other engineering or other services in connection
with development of such port or project shall be reimbursed to the
state general fund from the proceeds of such bonds.
Formerly: Acts 1961, c.11, s.12. As amended by P.L.66-1984,
SEC.4; P.L.165-2003, SEC.1; P.L.224-2003, SEC.212 and
P.L.271-2003, SEC.12; P.L.97-2004, SEC.36; P.L.98-2008,
SEC.22.