Sec. 5. (a) The unit's fiscal body may levy a tax not to exceed thirty-three cents ($0.33) on each one hundred dollars ($100) of taxable property within the taxing district to provide for a cumulative building fund. The tax may be levied annually for any period not to exceed ten (10) years.
(b) Appropriations may be made from the cumulative building fund for the purposes authorized by this chapter.
[Pre-Local Government Recodification Citation: 18-6-1-4.]
As added by Acts 1981, P.L.309, SEC.89. Amended by P.L.199-1988, SEC.8; P.L.6-1997, SEC.220.
Structure Indiana Code
Article 9. Transportation and Public Works
Chapter 16. Municipal Cumulative Building or Sinking Fund and Cumulative Capital Improvement Fund
36-9-16-1. Application of Chapter
36-9-16-2. Authorization of Funds; Purposes
36-9-16-3. Cumulative Capital Improvement Fund; Additional Purposes
36-9-16-5. Cumulative Building Fund; Tax Levy; Appropriations
36-9-16-6. Cumulative Capital Improvement Fund; Tax Levy; Additions to Fund; Appropriations