Indiana § 36-9-23-13 - Preliminary expenses; payment from general fund; repayment from bond proceeds

§ 36-9-23-13. Preliminary expenses; payment from general fund; repayment from bond proceeds

Sec. 13. (a) All necessary preliminary expenses actually incurred by the board before the issuance and delivery of revenue bonds, including expenses incurred in:

(1) making surveys;

(2) estimating costs and revenues;

(3) employing engineers or other employees;

(4) giving notices; and

(5) taking options;

may be paid in the manner prescribed by this section.

(b) The board shall, from time to time, certify the items of expense to the municipal fiscal officer, directing the fiscal officer to pay the amounts certified. The fiscal officer shall draw a warrant or warrants in the correct amounts on the general fund, without appropriation. If there is no money in the general fund, the fiscal officer shall request the municipal legislative body to transfer from other funds of the municipality an amount sufficient to meet the items of expense, or to make a temporary loan for this purpose. The legislative body shall comply with the request promptly.

(c) Money transferred under subsection (b) shall be repaid by the board to the fund from which it was taken, out of the first proceeds of the sale of revenue bonds and before any other disbursements are made from those proceeds. The amount advanced to pay the preliminary expenses constitutes a first charge against the proceeds resulting from the sale of the revenue bonds until repaid.

[Pre-Local Government Recodification Citation: 19-2-5-7.]

As added by Acts 1981, P.L.309, SEC.96. Amended by P.L.127-2017, SEC.314.