Indiana Code
Chapter 17.5. Motorsports Investment District
5-1-17.5-25. Allocation of Amounts Appropriated to the Commission; Expiration Date of District

Sec. 25. A resolution establishing a motorsports investment district must provide for the allocation to the motorsports investment district fund established under section 30 of this chapter of the money appropriated to the commission. The resolution must state an expiration date for the motorsports investment district, which must be the later of:
(1) the date that is thirty (30) years after the date of the adoption of the resolution; or
(2) the date on which the owner or owners of a qualified motorsports facility no longer have a financial liability to the commission.
Subject to section 24(c) of this chapter, the commission shall specify in the resolution the geographic area that is included within the motorsports investment district.
As added by P.L.233-2013, SEC.5.

Structure Indiana Code

Indiana Code

Title 5. State and Local Administration

Article 1. Bonds and Other Obligations

Chapter 17.5. Motorsports Investment District

5-1-17.5-1. Legislative Findings

5-1-17.5-2. "Admissions Fees"

5-1-17.5-3. Repealed

5-1-17.5-4. "Authority"

5-1-17.5-5. "Board"

5-1-17.5-6. "Bonds"

5-1-17.5-7. "Budget Agency"

5-1-17.5-8. "Budget Committee"

5-1-17.5-9. "Commission"

5-1-17.5-10. "Department"

5-1-17.5-11. "Motorsports Investment District"

5-1-17.5-12. "Person"

5-1-17.5-13. "Political Subdivision"

5-1-17.5-14. "Qualified Motorsports Facility"

5-1-17.5-15. Commission Established; Purpose

5-1-17.5-16. Board of Directors of the Commission

5-1-17.5-17. Powers of the Commission

5-1-17.5-18. Staff Support and Expenses; Employees

5-1-17.5-19. Surety Bonds of Directors

5-1-17.5-20. Personal Liability of Directors

5-1-17.5-21. Annual Audit

5-1-17.5-22. Annual Report

5-1-17.5-23. Director's Interest in Contracts or in Sale or Lease of Property Prohibited

5-1-17.5-24. Resolution by Commission Establishing a District; Public Hearing; Required Findings by Commission; Territory of District

5-1-17.5-25. Allocation of Amounts Appropriated to the Commission; Expiration Date of District

5-1-17.5-26. Filing of Informational Tax Returns by Certain Taxpayers; Guidelines

5-1-17.5-27. Submission to the Budget Agency of Resolution Establishing District

5-1-17.5-28. Budget Committee Review; Approval by Budget Agency; Required Findings Before Resolution May Be Approved

5-1-17.5-29. Information to Be Provided to Department of State Revenue

5-1-17.5-30. Motorsports Investment District Fund; Request for Appropriations; Use of Money in the Fund

5-1-17.5-30.5. Establishment of Motorsports Facility Fund; Deposits; Reversions; Requests for Appropriations

5-1-17.5-31. Powers of Indiana Finance Authority

5-1-17.5-32. Lease of Structures and Improvements; Requirements

5-1-17.5-33. Option to Renew Lease

5-1-17.5-34. Option to Purchase Leased Property; Conveyance of Property; Requirements

5-1-17.5-35. Authorization and Execution of Leases by Commission Board of Directors

5-1-17.5-36. Commission Approval of Financed Improvements; Liens and Security Interests; Transfer of Controlling Ownership Interest in Qualified Motorsports Facility; Credits Against Obligations of Owners

5-1-17.5-37. Issuance of Bonds; Terms and Conditions; Use of Bond Proceeds

5-1-17.5-38. Authority for Certain Actions by the Commission and the Indiana Finance Authority; Bonds as Legal Investments

5-1-17.5-39. Securing of Bonds; Trust Indenture; Validity of Pledge or Assignment

5-1-17.5-40. Action to Contest Validity of Bonds

5-1-17.5-41. Equal Opportunities in Procurement and Contracting

5-1-17.5-42. Income Tax Withholding; Department of State Revenue Guidelines

5-1-17.5-43. Office of Management and Budget Review