Learn About the Law
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Current as of January 02, 2024 | Updated by FindLaw Staff
Sec. 6.4. (a) As used in this section, “fund” means the Morris Performing Arts Center fund.
(b) If the county fiscal body adopts an ordinance to increase the tax rate under section 5(b) of this chapter, the fund is established for the purpose of investing money in the Morris Performing Arts Center, which may include construction costs to:
(1) alter or expand existing structures and buildings of, or connected or immediately adjacent to, the Morris Performing Arts Center;
(2) construct, expand, or repair parking facilities;
(3) add levels or stories to the Morris Performing Arts Center;
(4) improve or update the Morris Performing Arts Center; or
(5) create private development opportunities, such as adding retail space or residential units in, or connected or immediately adjacent to, the Morris Performing Arts Center.
(c) Subject to subsection (e), the county treasurer, after collecting the tax revenue in accordance with section 5 of this chapter, shall quarterly deposit tax revenue in the fund as follows:
(1) If the county fiscal body adopts an ordinance to increase the tax rate imposed under this chapter to a rate of more than six percent (6%), but less than eight percent (8%), twenty-five percent (25%) of the amount of revenue that is attributable to the increased tax rate.
(2) If the county fiscal body adopts an ordinance to increase the tax rate imposed under this chapter to a rate of eight percent (8%), the amount of revenue collected as a result of a one-half of one percent (0.5%) rate.
(d) The board of managers shall administer the fund to:
(1) finance, construct, improve, equip, operate, promote, and maintain the Morris Performing Arts Center;
(2) renovate, equip, operate, and maintain any existing structure of the Morris Performing Arts Center;
(3) refund bonds issued for a purpose described in subdivision (1) or (2), make lease payments incurred, or retire bonds issued to finance, construct, improve, or equip a capital project described in this section; or
(4) carry out any other purpose described in subsection (b).
(e) This section expires on July 1, 2046.
Cite this article: FindLaw.com - Indiana Code Title 6. Taxation § 6-9-1-6.4 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-6-taxation/in-code-sect-6-9-1-6-4/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Search our directory by legal issue
Enter information in one or both fields (Required)