Indiana § 36-9-4-46 - Bonds; special tax levy
Full text of Indiana Indiana Code § 36-9-4-46 — Bonds; special tax levy, with citation guidance and answers to common questions.
§ 36-9-4-46. Bonds; special tax levy
Sec. 46. (a) The board of directors of a public transportation corporation that issues bonds under this chapter shall levy a special tax each year upon all the property within the taxing district of the corporation. The tax shall be levied in such a manner as to meet and pay the principal of the bonds as they mature, together with all accruing interest.
(b) The county treasurer shall collect the tax in the same manner as other taxes are collected. As the treasurer collects the tax, the treasurer shall remit it to the controller of the public transportation corporation.
(c) In determining the amount of the levy, the board of directors shall consider any surplus of accumulated revenue derived from the operation of the urban mass transportation system, above the sum considered necessary to be applied upon or reserved for the payment of the operating and capital expenditures of the system, including expenditures for the replacement of and additions to the property of the system and reserves established for the depreciation of the property of the system. If the board finds that this surplus is sufficient, it may apply all or part of the surplus to the payment of the principal of the bonds, together with the interest on them.
[Pre-Local Government Recodification Citation: 19-5-2-28.]
As added by Acts 1981, P.L.309, SEC.77. Amended by P.L.127-2017, SEC.284.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 36-9-4-46
What does Indiana Code § 36-9-4-46 cover?
Section 36-9-4-46 ("Bonds; special tax levy") 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 § 36-9-4-46?
A common citation format is "Indiana Code § 36-9-4-46" (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 § 36-9-4-46 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.