Sec. 34. (a) Except as provided by subsection (d), an eligible entity that executes a lease under this chapter shall annually levy a tax sufficient to produce each year the necessary money with which to pay the lease rental required by the lease. These levies may be reviewed by other bodies vested by law with that authority, in order to determine that the levies are sufficient to raise the amount required to meet the rental under the lease.
(b) The first tax levy shall be made at the first annual tax levy period following the date of the execution of the lease. However, if the lease was entered into in anticipation of the purchase of land, construction or purchase of a government building, or acquisition of a system, the first tax levy shall be made at the first annual tax levy period immediately before the date fixed in the lease for the beginning of the lease rental. The first annual levy shall be made in an amount sufficient to pay the estimated amount of the first annual lease rental to be made under the lease.
(c) The annual lease rental shall be paid to the authority semiannally, following settlements for tax collections.
(d) If a consolidated city executes a lease agreement for all or part of any land, government building, or system, and its use and benefit is for a certain special service district within the consolidated city, the authority may determine that the annual tax required under subsection (a) shall be levied by the special service district benefited by the lease agreement.
[Pre-Local Government Recodification Citation: 19-8-4-23.]
As added by Acts 1981, P.L.309, SEC.86. Amended by P.L.37-1988, SEC.40.
Structure Indiana Code
Article 9. Transportation and Public Works
Chapter 13. County Building Authority
36-9-13-1. Application of Chapter; "Eligible Entities" Defined
36-9-13-3. "Government Building" Defined
36-9-13-4. Building Authorities; Authorization; Purposes
36-9-13-5. Procedure for Establishment of Authority; Notice and Hearing
36-9-13-6. Trustees; Appointment; Terms of Office; Oaths
36-9-13-6.5. Withdrawal of Municipal County Seat From County Building Authority
36-9-13-7. Trustees; Appointment of Successors
36-9-13-8. Trustees; Failure to Qualify; Vacancies
36-9-13-9. Trustees; Meetings to Elect Officers and Appoint Board of Directors
36-9-13-10. Trustees; Adoption of Rules; Records; Additional Meetings
36-9-13-11. Board of Directors; Appointment; Terms of Office; Qualifications; Oaths
36-9-13-12. Directors; Appointment of Successors
36-9-13-13. Directors; Vacancies
36-9-13-14. Directors; Meetings to Elect Officers
36-9-13-15. Directors; Additional Meetings
36-9-13-16. Directors; Adoption of Rules; Quorum; Approval of Actions
36-9-13-17. Trustees and Directors; Actions Resulting in Vacation of Office
36-9-13-18. Removal of Trustees and Directors
36-9-13-19. Compensation of Trustees and Directors
36-9-13-20. Trustees and Directors; Conflicts of Interest
36-9-13-21. Preliminary Expenses
36-9-13-22. Powers and Duties of Board of Directors
36-9-13-22.5. Management Contract; Terms; Annual Budget; Tax Levy
36-9-13-24. Leases; Options to Renew
36-9-13-25. Leases; Options to Purchase; Authorization of Bond Issue to Pay Purchase Price
36-9-13-27. Leases; Notice and Hearing; Execution
36-9-13-32. Trust Indentures Securing Bonds or Loans
36-9-13-33. Proceeds; Application; Liens
36-9-13-34. Tax Levy to Pay Lease Rentals
36-9-13-35. Review of Annual Budget
36-9-13-36. Property and Revenues; Tax Exemption
36-9-13-37. Bonds and Other Securities; Tax Exemption
36-9-13-38. Handling of Funds; Employees' Bonds