Indiana Code 6-1.1-20-0.5. Project cost; exception for donations
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Sec. 0.5. (a) This section applies to a preliminary determination to issue bonds or enter into a lease made after June 30, 2013.
(1) that are received by the political subdivision; and
(b) In determining whether a project is a controlled project for purposes of this chapter and whether the petition and remonstrance process under sections 3.1 and 3.2 of this chapter or the referendum process under sections 3.5 and 3.6 of this chapter apply to the project, the cost of the project does not include expenditures for the project that will be paid from donations or other gifts:
Terms Used In Indiana Code 6-1.1-20-0.5
- controlled project: means any project financed by bonds or a lease, except for the following:
Indiana Code 6-1.1-20-1.1
- project: means any project or purpose for which a political subdivision may issue bonds or enter into leases, including a sale-lease back of an existing building. See Indiana Code 6-1.1-20-1.7
(2) for which the political subdivision adopts an ordinance or resolution pledging that the donations or other gifts will be used exclusively for expenditures on the project’s costs.
As added by P.L.218-2013, SEC.8.