Skip to main content
Find a Lawyer

Indiana Code Title 6. Taxation § 6-9-25-9

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 9. (a) This section applies to revenues from the county food and beverage tax received by the county before July 1, 1994.

(b) Money in the fund established under section 8 of this chapter shall be used by the county in the following order:

(1) To pay debt service on bonds issued under IC 36-2-6-18 through IC 36-2-6-20, including up to two (2) years interest, to finance:

(A) the acquisition, construction, or equipping of a basketball hall of fame;

(B) all reasonable and necessary architectural, engineering, legal, financing, accounting, advertising, bond discount, and supervisory expenses related to the acquisition, construction, or equipping of a basketball hall of fame or the issuance of bonds;  and

(C) the establishment or maintenance of a debt service reserve fund for the bonds or any other reasonable or necessary reserve funds to operate, repair, maintain, or improve a basketball hall of fame.

(2) To redeem or prepay bonds after meeting all requirements of any bond ordinance.

(3) To reimburse the county or any nonprofit corporation for any money advanced for purposes of this chapter.

(c) Money held in the fund established under section 8 of this chapter shall be held until distribution under subsection (b).

(d) The county auditor shall make a semiannual distribution, at the time property tax revenue is distributed, to the paying agent for any bonds described in subsection (b)(1).  Each semiannual distribution must be equal to principal and interest obligations on the bonds on the next interest payment date.  Money received by a paying agent under this subsection shall be deposited in a special fund to be used to service the bonds.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - Indiana Code Title 6. Taxation § 6-9-25-9 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-6-taxation/in-code-sect-6-9-25-9/

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 before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

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.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

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.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard