Sec. 12. (a) If an ordinance is adopted under section 5 of this chapter, the fiscal officer of the
city shall establish a food and beverage tax receipts fund.
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Terms Used In Indiana Code 6-9-41-12
- city: means the city of Bloomington. See Indiana Code 6-9-41-3
- county: means Monroe County. See Indiana Code 6-9-41-4
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
(c) Any money earned from the investment of money in the fund becomes part of the fund.
(d) Money in the fund at the end of the city fiscal year does not revert to the city general fund.
As added by P.L.176-2009, SEC.21.
