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6-1.1-17-16.5. Cumulative building or sinking fund proposal; action by department of local government finance

IN Code § 6-1.1-17-16.5 (2019) (N/A)
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Sec. 16.5. This section applies in each case in which the department of local government finance has the power to approve or disapprove the tax levy for a cumulative building or sinking fund proposed to be established by a political subdivision. The department may:

(1) approve the tax levy;

(2) disapprove the tax levy; or

(3) modify the tax levy by approving it at any amount less than the tax levy proposed to be established.

[Pre-Local Government Recodification Citation: 18-6-16-1.]

As added by Acts 1981, P.L.11, SEC.23. Amended by P.L.90-2002, SEC.157.

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6-1.1-17-16.2. No approval of budget or supplemental appropriations due to noncompliance
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6-1.1-17-16.7. Proposals to establish cumulative funds or sinking funds; submission to department of local government finance