Sec. 25. (a) To raise money to pay all bonds issued under this chapter, the fiscal body shall levy annually a special tax upon all of the real and personal property located in the district sufficient to pay the principal of the bonds as the bonds mature, including accrued interest. The fiscal body shall have the tax to be levied each year certified to the auditor of the county in which the township is located at the time for certification of tax levies. The tax shall be collected and enforced by the county treasurer in the same manner as other taxes are collected and enforced.
(b) As the tax is collected, the tax shall be accumulated and kept in a separate fund to be known as the district bond fund. The tax shall be applied to the payment of the bonds and interest as the bonds mature and may not be used for another purpose.
As added by P.L.157-1991, SEC.15.
Structure Indiana Code
Article 10. Recreation, Culture, and Community Facilities
Chapter 7.5. Township General Park and Recreation Law
36-10-7.5-1. Application of Chapter
36-10-7.5-1.5. "Park and Recreation Board" Defined
36-10-7.5-2. "Department" Defined
36-10-7.5-3. "District" Defined
36-10-7.5-3.5. "Park Governor" Defined
36-10-7.5-4. "Superintendent" Defined
36-10-7.5-5.5. Township Park and Recreation Board
36-10-7.5-6. Park Governor; Powers and Duties
36-10-7.5-7. Park Governor; Authorized Actions
36-10-7.5-8. Lease of Buildings and Grounds
36-10-7.5-9. Sale of Surplus Property; Appraisal
36-10-7.5-10. Conference Attendance
36-10-7.5-11. Superintendent; Appointment; Qualifications
36-10-7.5-12. Powers and Duties of Superintendent
36-10-7.5-13. Assistants to Superintendent
36-10-7.5-14. Officers' and Employees' Bonds and Crime Policies
36-10-7.5-15. Advisory Council or Special Committee; Membership; Responsibilities
36-10-7.5-16. Gifts, Grants, and Transfers
36-10-7.5-17. Special Benefit Taxes; Provision of Operating Revenues
36-10-7.5-18. Special Nonreverting Capital Fund
36-10-7.5-19. Township Park and Recreation Cumulative Building Fund
36-10-7.5-20. Fees; Management and Deposit of Collections
36-10-7.5-21. Land Acquisition or Appropriation and Improvements
36-10-7.5-22. District Bonds for Land Acquisition or Improvements
36-10-7.5-23. Bond Issue; Notice and Hearing
36-10-7.5-24. Funds From Bond Proceeds; Use; Surplus
36-10-7.5-25. Tax Levy; District Bond Fund
36-10-7.5-26. Contracts or Leases With Not-for-Profit Corporations