Indiana § 36-9-15-10 - Debt service fund; creation; purposes; tax levy

§ 36-9-15-10. Debt service fund; creation; purposes; tax levy

Sec. 10. (a) The county fiscal body may establish a debt service fund for the payment of:

(1) a debt or other obligation arising out of money borrowed or advanced for a jail that it purchases from the proceeds of a bond issue for capital construction under IC 36-2-6-18; or

(2) a lease to provide capital construction under IC 36-1-10.

(b) The county fiscal body shall levy a tax each year in an amount sufficient to pay all debt service obligations for jails for that year. IC 6-1.1-18.5-8 applies to such a tax levy.

[Pre-Local Government Recodification Citation: 17-3-84.8-1.]

As added by Acts 1981, P.L.309, SEC.88. Amended by P.L.73-1983, SEC.21.

IC 36-9-15.5Chapter 15.5. Municipal Cumulative Capital Development Fund

36-9-15.5-1Application of chapter 36-9-15.5-2Authorization of fund; purpose 36-9-15.5-3Repealed 36-9-15.5-4Repealed 36-9-15.5-5Repealed 36-9-15.5-6Tax levy; rate of tax 36-9-15.5-7Repealed 36-9-15.5-8Cumulative capital development fund; transfer between funds; expenditures

IC 36-9-15.5-1Application of chapter Sec. 1. This chapter applies to all municipalities.

As added by P.L.44-1984, SEC.17.

IC 36-9-15.5-2Authorization of fund; purpose Sec. 2. The legislative body of a municipality may establish a cumulative capital development fund under IC 6-1.1-41 to provide money for any purpose for which property taxes may be imposed within the municipality under the authority of:

IC 8-16-3;

IC 8-22-3-25;

IC 14-27-6-48;

IC 14-33-14;

IC 16-23-1-40;

IC 36-8-14;

IC 36-9-4-48;

IC 36-9-16-2;

IC 36-9-16-3;

IC 36-9-16.5;

IC 36-9-17;

IC 36-9-26;

IC 36-9-27-100;

IC 36-10-3-21; or

IC 36-10-4-36.

As added by P.L.44-1984, SEC.17. Amended by P.L.2-1993, SEC.208; P.L.1-1995, SEC.87; P.L.17-1995, SEC.32.

IC 36-9-15.5-3RepealedAs added by P.L.44-1984, SEC.17. Repealed by P.L.17-1995, SEC.45.

IC 36-9-15.5-4RepealedAs added by P.L.44-1984, SEC.17. Repealed by P.L.17-1995, SEC.45.

IC 36-9-15.5-5RepealedAs added by P.L.44-1984, SEC.17. Repealed by P.L.17-1995, SEC.45.

IC 36-9-15.5-6Tax levy; rate of tax Sec. 6. (a) The municipal fiscal body may provide money for the cumulative capital development fund by levying a tax in compliance with IC 6-1.1-41 on the taxable property in the municipality. For purposes of this section, a county in which only the county economic development income tax (IC 6-3.5-7, repealed) was in effect on January 1, 2016, is considered a county in which the local income tax is not in effect unless the county increases, after 2015, the allocation of its local income tax revenue to property tax relief, public safety, or certified shares by an amount that is at least equal to the revenue raised from an income tax rate of twenty-five hundredths percent (0.25%).

(b) The maximum property tax rate that may be imposed for property taxes first due and payable during a particular year in a municipality that is either wholly or partially located in a county in which the local income tax is in effect on January 1 of that year depends upon the number of years the municipality has previously imposed a tax under this chapter and is determined under the following table:

NUMBER

TAX RATE PER $100

OF YEARS

OF ASSESSED

VALUATION

$0.0167

$0.0333

2 or more

$0.05

(c) The maximum property tax rate that may be imposed for property taxes first due and payable during a particular year in a municipality that is wholly located in a county in which the local income tax is not in effect on January 1 of that year depends upon the number of years the municipality has previously imposed a tax under this chapter and is determined under the following table:

NUMBER

TAX RATE PER $100

OF YEARS

OF ASSESSED

VALUATION

$0.0133

$0.0267

2 or more

$0.04

As added by P.L.44-1984, SEC.17. Amended by P.L.17-1995, SEC.33; P.L.146-2008, SEC.792; P.L.197-2016, SEC.150.

IC 36-9-15.5-7RepealedAs added by P.L.44-1984, SEC.17. Repealed by P.L.17-1995, SEC.45.

IC 36-9-15.5-8Cumulative capital development fund; transfer between funds; expenditures Sec. 8. (a) The tax money collected under this chapter shall be held in a special fund to be known as the cumulative capital development fund.

(b) In a consolidated city, money may be transferred from the fund to the fund of a department of the consolidated city responsible for carrying out a purpose for which the cumulative capital development fund was created. The department may not expend any money so transferred until an appropriation is made and the department may not expend any money so transferred for operating costs of the department.

(c) Money held in the cumulative capital development fund may be spent for purposes other than the purposes stated in section 2 of this chapter, if the purpose is to protect the public health, welfare, or safety in an emergency situation that demands immediate action or to make a contribution to an authority established under IC 36-7-23. Money may be spent under the authority of this subsection only after the executive of the municipality:

(1) issues a declaration that the public health, welfare, or safety is in immediate danger that requires the expenditure of money in the fund; or

(2) certifies in the minutes of the municipal legislative body that the contribution is made to the authority for capital development purposes.

As added by P.L.44-1984, SEC.17. Amended by P.L.82-1985, SEC.6; P.L.346-1989(ss), SEC.9; P.L.17-1995, SEC.34.

IC 36-9-16Chapter 16. Municipal Cumulative Building or Sinking Fund and Cumulative Capital Improvement Fund

36-9-16-1Application of chapter 36-9-16-2Authorization of funds; purposes 36-9-16-3Cumulative capital improvement fund; additional purposes 36-9-16-4Establishment of fund and approval of levy; department of local government finance hearing and action; appeal 36-9-16-5Cumulative building fund; tax levy; appropriations 36-9-16-6Cumulative capital improvement fund; tax levy; additions to fund; appropriations