Indiana Code 36-10-7.5-16. Gifts, grants, and transfers
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Sec. 16. (a) The park governor may accept gifts, donations, and subsidies for park and recreational purposes. However, a gift or transfer of property to the park governor may not be made without the approval of the park governor.
(b) A gift or grant of money shall be deposited in a special nonreverting fund to be available for expenditure by the park governor for purposes specified by the grantor. The fiscal officer of the township may draw warrants against the fund only upon vouchers signed by the executive.
As added by P.L.157-1991, SEC.15. Amended by P.L.271-1993, SEC.19.
Terms Used In Indiana Code 36-10-7.5-16
- 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.
- park governor: means the following:
Indiana Code 36-10-7.5-3.5
- Property: includes personal and real property. See Indiana Code 1-1-4-5