(1) this chapter;

(2) IC 13-2-23 (before its repeal); or

(3) IC 14-28-5 (before its repeal);

may levy an annual tax on personal and real property located within the geographical limits of the participant for flood control purposes. The tax is in addition to any other tax authorized by law to be levied for flood control purposes. The tax shall be levied at the rate that will produce sufficient revenue to pay the annual installment and interest on a loan or other financial assistance made under this chapter, under IC 13-2-23 (before its repeal), or under IC 14-28-5 (before its repeal). The tax at the rate authorized in this section is in addition to the maximum annual rates prescribed by law.

     (b) This subsection applies to the participation of the Kankakee River basin and Yellow River basin development commission. If the commission receives a loan or other financial assistance under this chapter, the commission must pay the annual installment and interest on the loan or other financial assistance from any combination of the direct support payments received under IC 14-13-9-21, the proceeds of special assessments imposed under IC 14-13-9-21, or other funds of the commission deemed acceptable by the authority.

As added by P.L.189-2018, SEC.25. Amended by P.L.282-2019, SEC.2.