Indiana Code Title 36. Local Government § 36-8-14-4

Sec. 4.  (a) To provide for the cumulative building and equipment fund established under this chapter, the legislative body may levy a tax on all taxable property within the taxing district in compliance with IC 6-1.1-41.  The tax rate may not exceed three and thirty-three hundredths cents ($0.0333) on each one hundred dollars ($100) of assessed valuation of property in the taxing district.

(b) As the tax is collected, it shall be deposited in a qualified public depository or depositories and held in a special fund to be known as the “building or remodeling, firefighting, and police radio equipment fund” in the case of a municipality or as the “building or remodeling and fire equipment fund” in the case of a township or fire protection district.