§ 8-14-14.2-1 — Establishment of fund; uses

Indiana § 8-14-14.2-1

• Jurisdiction: Indiana
• Art. 14: HIGHWAY FINANCES
• Ch. 14.2: Toll Road Lease Amendment Proceeds Fund

Text

(a) The toll road lease amendment proceeds
fund is established.
(b) The fund consists of the following:
(1) Distributions to the fund from the major moves construction
fund under IC 8-14-14-7(c).
(2) Appropriations to the fund.
(3) Gifts, grants, loans, bond proceeds, and other money received
for deposit in the fund.
(4) Interest, premiums, or other earnings on the fund.
(c) Money in the fund may be used only for the construction,
reconstruction, improvement, maintenance, and repair, including
design and right-of-way acquisition, of state highways that have a
direct or indirect nexus with the Indiana toll road in the following
counties:
(1) Elkhart.
(2) LaGrange.
(3) Lake.
(4) LaPorte.
(5) Porter.
(6) Steuben.
(7) St. Joseph.
(d) The department of transportation shall administer the fund.
(e) Notwithstanding IC 5-13, the treasurer of state shall invest the
money in the fund not currently needed to meet the obligations of the
fund in the same manner as money may be invested by the Indiana
public retirement system under IC 5-10.3-5. However, the treasurer of
state may not invest the money in the fund in equity securities. The
treasurer of state may contract with investment management
professionals, investment advisors, and legal counsel to assist in the
investment of the fund and may pay the state expenses incurred under
those contracts from the fund. Interest that accrues from these
investments shall be deposited in the fund.
(f) Money in the fund at the end of a state fiscal year does not revert
to the state general fund.

Legislative History

As added by P.L.108-2019, SEC.154.