Indiana Code 36-10-3-20. Special nonreverting capital fund; purposes; withdrawals
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Sec. 20. (a) Upon the request of the board, the fiscal body of the unit may establish, by ordinance, a special nonreverting capital fund for the purposes of acquiring land or making specific capital improvements. The fiscal body may include in the board’s annual budget an item and an appropriation for these specific purposes.
(b) Money placed in the nonreverting capital fund may not be withdrawn except for the purposes for which the fund was created, unless the fiscal body repeals the ordinance. The fiscal body may not repeal the ordinance under suspension of the rules.
[Pre-Local Government Recodification Citation: 19-7-4-25.]
As added by Acts 1981, P.L.309, SEC.110. Amended by P.L.358-1987, SEC.1.
Terms Used In Indiana Code 36-10-3-20
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Board: refers to a park and recreation board. See Indiana Code 36-10-3-2