Indiana Code 36-10-3-18. Gifts, donations, and subsidies; approval; disposition
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Sec. 18. (a) The board may accept gifts, donations, and subsidies for park and recreational purposes. However, a gift or transfer of property to the board may not be made without its approval.
(b) A gift or grant of money shall be deposited in a special nonreverting fund to be available for expenditure by the board for purposes specified by the grantor. The disbursing officer of the unit may draw warrants against the fund only upon vouchers signed by the president and secretary of the board.
[Pre-Local Government Recodification Citation: 19-7-4-22.]
As added by Acts 1981, P.L.309, SEC.110. Amended by Acts 1981, P.L.320, SEC.8.
Terms Used In Indiana Code 36-10-3-18
- Board: refers to a park and recreation board. See Indiana Code 36-10-3-2
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Grantor: The person who establishes a trust and places property into it.
- Property: includes personal and real property. See Indiana Code 1-1-4-5