§ 8-25-3-7 — County public transportation project fund

Indiana § 8-25-3-7

• Jurisdiction: Indiana
• Art. 25: CENTRAL INDIANA PUBLIC
• Ch. 3: Funding for Central Indiana Public Transportation

Text

(a) If the fiscal body of an eligible county
imposes taxes to fund a public transportation project, the county
treasurer of the eligible county shall establish a county public
transportation project fund to receive tax revenues collected for the
public transportation project. Money received from a foundation
established under IC 8-25-7 or IC 8-25-8 may be deposited into the
fund.
(b) Money in a fund established under subsection (a) at the end of
the eligible county's fiscal year remains in the fund. Interest earned by
the fund must be deposited in the fund.
(c) Money deposited in an eligible county's public transportation
project fund may be used only to purchase, establish, operate, repair,
or maintain a public transportation project authorized under this article.
Money in the fund may be pledged by the fiscal body of the eligible
county to the repayment of bonds issued for purposes of a public
transportation project authorized under this article.
(d) The fiscal body of an eligible county may, in the manner
provided by law, appropriate money from the fund to a public
transportation corporation that is authorized to purchase, establish,
operate, repair, or maintain the public transportation project if the
public transportation project is located, either entirely or partially,
within the eligible county.

Legislative History

As added by P.L.153-2014, SEC.17.