Sec. 18. (a) Upon the request of the executive, the fiscal body of the township may establish by resolution a special nonreverting capital fund for the purposes of acquiring land or making specific capital improvements. The fiscal body may include in the department‘s annual budget an item and an appropriation for these specific purposes.

     (b) Money placed in the special nonreverting capital fund may not be withdrawn except for the purposes for which the fund was created, unless the fiscal body repeals the resolution. The fiscal body may not repeal the resolution under suspension of the rules.

As added by P.L.157-1991, SEC.15.

Terms Used In Indiana Code 36-10-7.5-18

  • 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
  • department: refers to a department of parks and recreation created under section 5 of this chapter. See Indiana Code 36-10-7.5-2
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