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Indiana Code — Title 6 (Taxation)

IC 6-9-26-12

Use of funds

Official textiga.in.govlast amended

Sec. 12. (a) Except as provided in section 12.5 of this chapter, money in the county economic development project fund shall be used by the county solely to:

# (1)

finance, construct, improve, equip, operate, maintain, and promote first, a civic center, and then an economic development project, if there is money not needed for a civic center, approved under section 13 of this chapter; and

# (2)

retire bonds issued, loans obtained, or lease payments incurred under IC 36-1-10
(referred to in this chapter as "obligations") to finance, construct, improve, equip, operate, maintain, or promote first, a civic center, and then an economic development project approved under section 13 of this chapter.

(b) Obligations entered into for the purposes described in subsection (a) shall be retired by using money collected from a tax imposed under this chapter.
As added by P.L.74-1988, SEC.2. Amended by P.L.51-1992, SEC.1.

Amendment history

As added by P.L.74-1988, SEC.2. Amended by P.L.51-1992, SEC.1.

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Nearby sections (25 sections)
  1. 6-9-25-16 · Expiration of chapter
  2. 6-9-26-1 · Application of chapter
  3. 6-9-26-2 · Definitions
  4. 6-9-26-3 · Rate of tax; ordinance
  5. 6-9-26-4 · Copy of ordinance
  6. 6-9-26-5 · Effective date and application of ordinance
  7. 6-9-26-6 · Application of tax
  8. 6-9-26-7 · Food served off-premises, in heated state, or with eating
  9. 6-9-26-8 · Exemptions
  10. 6-9-26-9 · Collection; returns
  11. 6-9-26-10 · Receipt of taxes
  12. 6-9-26-11 · Economic development project fund; establishment; deposits
  13. 6-9-26-12 · Use of funds
  14. 6-9-26-12.5 · Transfer of funds; use
  15. 6-9-26-13 · Disbursements; resolution and findings; restrictions on use
  16. 6-9-26-14 · Repeal of ordinance
  17. 6-9-26-15 · Pledge of funds to finance obligations
  18. 6-9-26-16 · Repeal of ordinance; effective date; copy
  19. 6-9-26-17 · Expiration of chapter
  20. 6-9-27-1 · Application of chapter
  21. 6-9-27-2 · Definitions
  22. 6-9-27-3 · Adoption of ordinance
  23. 6-9-27-4 · Transactions; application of tax
  24. 6-9-27-5 · Amount; increase ordinance
  25. 6-9-27-5.5 · Certified copy of increase ordinance; application of…
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