Indiana Code 6-1.1-18-7. Insurance funds; appropriations
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Sec. 7. Notwithstanding the other provisions of this chapter, the fiscal officer of a political subdivision may appropriate funds received from a person (as defined in IC 6-1.1-1-10) if:
(2) the funds are appropriated for the purpose of repairing or replacing the damaged property.
(1) the funds are received as a result of damage to property of the political subdivision; and
Terms Used In Indiana Code 6-1.1-18-7
- 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
However, this section applies only if the funds are in fact expended to repair or replace the property within the twelve (12) month period after they are received.
[Pre-1975 Property Tax Recodification Citation: 6-1-1-24 part.]
Formerly: Acts 1975, P.L.47, SEC.1. As amended by P.L.173-2003, SEC.8; P.L.164-2019, SEC.2.