Indiana Code 36-9-13-34. Tax levy to pay lease rentals
(b) The first tax levy shall be made at the first annual tax levy period following the date of the execution of the lease. However, if the lease was entered into in anticipation of the purchase of land, construction or purchase of a government building, or acquisition of a system, the first tax levy shall be made at the first annual tax levy period immediately before the date fixed in the lease for the beginning of the lease rental. The first annual levy shall be made in an amount sufficient to pay the estimated amount of the first annual lease rental to be made under the lease.
Terms Used In Indiana Code 36-9-13-34
- government building: includes :
Indiana Code 36-9-13-3
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- system: means any of the following:
Indiana Code 36-9-13-3.5
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(d) If a consolidated city executes a lease agreement for all or part of any land, government building, or system, and its use and benefit is for a certain special service district within the consolidated city, the authority may determine that the annual tax required under subsection (a) shall be levied by the special service district benefited by the lease agreement.
[Pre-Local Government Recodification Citation: 19-8-4-23.]
As added by Acts 1981, P.L.309, SEC.86. Amended by P.L.37-1988, SEC.40.