Indiana Code 5-1-17-25. Bonds; maximum amount; conditions
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Sec. 25. The authority shall not issue bonds in a principal amount exceeding five hundred million dollars ($500,000,000) to finance any capital improvement in Marion County unless:
(A) increases the rate of the tax authorized by IC 6-6-9.7 by the maximum amount authorized by IC 6-6-9.7-7(c);
(1) on or before June 30, 2005, the county fiscal body:
Terms Used In Indiana Code 5-1-17-25
- authority: refers to the Indiana stadium and convention building authority created by this chapter. See Indiana Code 5-1-17-1
- bonds: means bonds, notes, commercial paper, or other evidences of indebtedness. See Indiana Code 5-1-17-3
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(B) increases the rate of the tax authorized by IC 6-9-8 by the maximum amount authorized by IC 6-9-8-3(d);
(C) increases the rate of tax authorized by IC 6-9-12 by the maximum amount authorized by IC 6-9-12-5(b); and
(D) increases the rate of the tax authorized by IC 6-9-13 by the maximum amount authorized by IC 6-9-13-2(b); and
(2) on or before October 1, 2005, the budget director makes a determination under IC 36-7-31-14.1 to increase the amount of money captured in a tax area established under IC 36-7-31 by up to eleven million dollars ($11,000,000) per year, commencing July 1, 2007.
As added by P.L.214-2005, SEC.6. Amended by P.L.104-2022, SEC.13.