Sec. 38. (a) To raise money to pay all bonds issued under section 35 of this chapter, including interest, the board shall levy each year a special tax upon all of the real and personal property located in the district to pay the principal of the bonds as they mature, together with all accruing interest. The board shall have the tax levied each year certified to the auditor of the county in which the district is located by October 1 each year.
(b) The tax levied and certified shall be collected and enforced in the same manner as other city taxes are collected and enforced. As the tax is collected, it shall be accumulated and kept in a separate fund to be known as the park district bond fund. The tax shall be used to pay the bonds and interest as they mature and may not be used for any other purpose.
(c) All accumulations of the fund before use for the payment of bonds and interest shall be deposited, at interest, with one (1) of the depositories of other public funds of the city, with interest collected belonging to the fund.
[Pre-Local Government Recodification Citations: 19-7-9-12; 19-7-30-33.]
As added by Acts 1981, P.L.309, SEC.111.
Structure Indiana Code
Article 10. Recreation, Culture, and Community Facilities
Chapter 4. Parks Department in Certain Cities
36-10-4-1. Application of Chapter
36-10-4-4. Commissioner; Appointment; Removal
36-10-4-6. Extended Districts in Certain Counties; Board of Park Commissioners; Term; Vacancy
36-10-4-6.1. Extended Districts in Other Counties; Board of Park Commissioners; Term; Vacancy
36-10-4-8. Taxing District for Levying Special Benefit Taxes
36-10-4-10. Powers of Board Extended Five Miles Outside Corporate City Boundaries
36-10-4-12. Open Spaces for Park, Recreational, or Civic Purposes
36-10-4-15. Publication of Rules Adopted by Board
36-10-4-17. Granting of Public Utility Franchise
36-10-4-18. Ordinance Authorizing Sale of Park Lands; Disposition of Proceeds
36-10-4-21. Eminent Domain; Damages; Prior Public Use
36-10-4-22. Authority Concerning Rivers, Streams, and Waterways
36-10-4-24. Appropriation of Property; Purposes
36-10-4-29. Exempt Personal and Real Property; Exception
36-10-4-30. Awards; Determination; Notice Describing Location of Land Appropriated or Acquired
36-10-4-32. Remonstrance Against Award or Assessment; Hearing; Decision; Appeal; Procedure; Costs
36-10-4-34. Damage Awards; Certificates; Payment; Disputes as to Claimants
36-10-4-36. Cumulative Building and Sinking Fund; Establishment; Levy of Tax
36-10-4-37. District Bond Fund; Proceeds From Sale of Bonds; Disposition of Fund