Indiana § 36-9-25-28 - Deposit and use of funds
Full text of Indiana Indiana Code § 36-9-25-28 — Deposit and use of funds, with citation guidance and answers to common questions.
§ 36-9-25-28. Deposit and use of funds
Sec. 28. (a) All proceeds from the sale of bonds under section 27 of this chapter shall be kept as a separate and specific fund to pay the cost of land, rights-of-way, and other property acquired and for construction under the resolution, including all costs and expenses incurred in connection with the project. The proceeds may not be used for any other purpose. The proceeds shall be deposited at interest with the depository or depositories of other public funds of the municipality, and all interest collected on them belongs to the fund. Any surplus of funds remaining out of the proceeds after all expenses are paid shall be paid into and becomes a part of the sanitary district bond fund.
(b) Money derived from sources other than the sale of bonds, such as state or federal reimbursement grants, matching funds, or other contributions, including money derived from a project financed from bond monies, shall be deposited in:
(1) the sanitary district bond fund;
(2) the sanitary maintenance and general expense fund; or
(3) a separate fund established by the board for extensions, additions, and improvements to the sewage works of the district.
The money may be expended as other money is expended by the board.
[Pre-Local Government Recodification Citations: 19-2-14-20; 19-2-20-9.]
As added by Acts 1981, P.L.309, SEC.98.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 36-9-25-28
What does Indiana Code § 36-9-25-28 cover?
Section 36-9-25-28 ("Deposit and use of funds") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 36-9-25-28?
A common citation format is "Indiana Code § 36-9-25-28" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 36-9-25-28 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.