§ 8-18-21-16 — Handling and expenditure of authority money; surety bonds

Indiana § 8-18-21-16

• Jurisdiction: Indiana
• Art. 18: COUNTY ROADS─FINANCING AND BONDING
• Ch. 21: County Toll Road Financing

Text

(a) Except as otherwise provided in this
chapter, all money coming into possession of the toll road authority
shall be deposited, held, and secured in accordance with the general
statutes concerning the handling of public funds. The handling and
expenditure of money coming into possession of the authority is subject
to audit and supervision by the state board of accounts.
(b) Any employee of the toll road authority authorized to receive,
disburse, or in any other way handle money or negotiable securities of
the authority shall execute a bond payable to the state, with surety to
consist of a surety or guaranty corporation qualified to do business in
Indiana. The bond must be in an amount determined by the board of
directors of the authority and must be conditioned upon the faithful
performance of the employee's duties and the accounting for all money
and property that may come into his hands or under his control. The
cost of the bond shall be paid by the authority.

Legislative History

As added by P.L.386-1987(ss), SEC.21.