5-13-9.3-1. “Capital Asset”
Sec. 1. As used in this chapter, “capital asset” means a building, a fixture, a structure, an improvement, or land. As added by P.L.139-2015, SEC.2.
5-13-9.3-2. “Fund”
Sec. 2. As used in this chapter, “fund” means a fund established under section 4 of this chapter. As added by P.L.139-2015, SEC.2.
5-13-9.3-3. Investment of Proceeds From Certain Capital Assets; Ordinance or Resolution
Sec. 3. (a) Subject to the requirements of this chapter, the fiscal body of a political subdivision may adopt an ordinance (in the case of a county or municipality) or a resolution (in the case of any other political subdivision) to authorize the investment of proceeds from the sale of a capital asset owned by […]
5-13-9.3-4. Establishment of Separate Fund; Investment Powers; Agreement With Investment Advisor; Expenditure or Transfer of Money in the Fund
Sec. 4. (a) Except as provided in subsection (d), if the fiscal body of a political subdivision adopts an ordinance or a resolution under section 3 of this chapter for a particular capital asset, the fiscal officer of the political subdivision shall establish a separate fund into which some or all of the proceeds from […]
5-13-9.3-5. Principal and Interest of Money in the Fund; Appropriation Required; Limits
Sec. 5. The following apply to money deposited in the fund: (1) The principal of the fund consists of: (A) the amount deposited in the fund as the proceeds from the sale of the capital asset; plus (B) any investment income that is: (i) earned on money in the fund; and (ii) added to the […]
5-13-9.3-6. Department of Local Government Finance May Not Reduce Levy
Sec. 6. The department of local government finance may not reduce a political subdivision’s property tax levy under IC 6-1.1-18.5 or any other law on account of money deposited in a fund established under this chapter. As added by P.L.139-2015, SEC.2.