Indiana § 8-14-9-14 Local county road and bridge district bond fund; deposits; exemption;
use

Indiana Statutes

§ 8-14-9-14 — Local county road and bridge district bond fund; deposits; exemption; use

Indiana·Art. 14 HIGHWAY FINANCES·Ch. 9 Local County Road and Bridge Board

(a)A separate fund known as the local county road and bridge district bond fund is created for deposit of the following monies:

(1)revenues collected from the tax imposed under this chapter;

(2)any appropriation made under section 16 of this chapter; and

(3)any proceeds remaining from the sale of bonds after payment of all costs and expenses described in section 10(b) of this chapter. In addition, if there are any outstanding bonds issued under this chapter, then revenues received by the county from the county vehicle excise tax and the county wheel tax shall, notwithstanding IC 6-3.5-4-13 and IC 6-3.5-5-15, be deposited in the local county road and bridge district bond fund. However, this subsection does not apply to county vehicle excise tax and county wheel tax revenues which are to

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(a) A separate fund known as the local county
road and bridge district bond fund is created for deposit of the
following monies:
(1) revenues collected from the tax imposed under this chapter;
(2) any appropriation made under section 16 of this chapter; and
(3) any proceeds remaining from the sale of bonds after payment
of all costs and expenses described in section 10(b) of this
chapter.
In addition, if there are any outstanding bonds issued under this
chapter, then revenues received by the county from the county vehicle
excise tax and the county wheel tax shall, notwithstanding IC 6-3.5-4-13 and IC 6-3.5-5-15, be deposited in the local county road and
bridge district bond fund. However, this subsection does not apply to
county vehicle excise tax and county wheel tax revenues which are to
be distributed under IC 6-3.5-4-13 and IC 6-3.5-5-15 to cities and
towns located in the county.
(b) Monies in the fund shall be used only for payment of local
county road and bridge district bonds as they severally mature, and the
interest on those bonds.
(c) Monies in the fund shall be deposited with one (1) depository of
other funds of the qualified county. Interest accruing on monies in the
fund belongs to the fund.
As added by Acts 1981, P.L.88, SEC.13. Amended by
P.L.256-2017, SEC.93.

Indiana § 8-14-9-14 (Local county road and bridge district bond fund; deposits; exemption; use) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.