Indiana Code 36-7-14-26. Capital fund; deposits; gifts; allocation fund
(b) All gifts or donations that are given or paid to the department of redevelopment or to the unit for redevelopment purposes shall be promptly deposited to the credit of the redevelopment district capital fund. The redevelopment commission may use these gifts and donations for the purposes of this chapter.
Terms Used In Indiana Code 36-7-14-26
- Month: means a calendar month, unless otherwise expressed. See Indiana Code 1-1-4-5
- Property: includes personal and real property. See Indiana Code 1-1-4-5
(d) A redevelopment commission shall deposit in the allocation fund established under section 39(b)(4) of this chapter of an allocation area the proceeds from the sale or leasing of property in the area under section 22 of this chapter if:
(1) there are outstanding bonds that were issued to pay costs of redevelopment in the allocation area; and
(2) the bonds are payable solely or in part from tax proceeds allocated under section 39(b)(4) of this chapter.
[Pre-Local Government Recodification Citations: 18-7-7-24 part; 18-7-7-27 part; 18-7-7.1-24; 18-7-7.1-27 part.]
As added by Acts 1981, P.L.309, SEC.33. Amended by P.L.72-1983, SEC.3; P.L.38-1988, SEC.10; P.L.203-2011, SEC.7; P.L.236-2023, SEC.177.