Indiana Code 5-1.2-6-14. Revolving fund
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Sec. 14. (a) A special revolving fund is created to be used only for the planning of projects, including the hiring of architects, engineers, consultants, and other experts and the doing of any work preliminary to the actual construction of a project.
(c) The amount of money in the special revolving fund may not exceed five hundred thousand dollars ($500,000).
(b) The money in the special revolving fund does not revert to the state general fund.
Terms Used In Indiana Code 5-1.2-6-14
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
(d) The authority may do the following:
(1) Transfer to the special revolving fund other money in the authority’s possession not otherwise committed or needed.
(2) Place a gift or grant to the authority not limited in character in the special revolving fund.
As added by P.L.189-2018, SEC.25.