Indiana § 8-10-5-16 - Budget; rates and charges
Full text of Indiana Indiana Code § 8-10-5-16 — Budget; rates and charges, with citation guidance and answers to common questions.
§ 8-10-5-16. Budget; rates and charges
Sec. 16. The board of directors of a port authority shall annually prepare a budget for the port authority.
Rents and charges received by the port authority shall be used for the general expenses of the port authority and to pay interest, amortization, and retirement charges on money borrowed. If there remains, at the end of any calendar year, any surplus of such funds after providing for the above uses, the board of directors may pay such surplus into the general funds of the political subdivisions creating and comprising the port authority in proportions to the taxable value of all property within the port authority which shall be listed on the general tax lists for the respective subdivisions.
Formerly: Acts 1959, c.343, s.15.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 8-10-5-16
What does Indiana Code § 8-10-5-16 cover?
Section 8-10-5-16 ("Budget; rates and charges") 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 § 8-10-5-16?
A common citation format is "Indiana Code § 8-10-5-16" (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 § 8-10-5-16 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.