Sec. 4. (a) The
blighted property demolition
fund is established to provide grants to the city of Gary to demolish qualified properties.
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Terms Used In Indiana Code 36-7.5-6-4
- blighted: means real property, including a building or structure on the real property, that is no longer in acceptable or beneficial condition to its community and has lost its value as a social good or economic commodity or its functional status as a livable space. See Indiana Code 36-7.5-6-1
- 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.
- fund: refers to the blighted property demolition fund established by section 4 of this chapter. See Indiana Code 36-7.5-6-2
- Property: includes personal and real property. See Indiana Code 1-1-4-5
(1) appropriations from the general assembly;
(2) available federal funds;
(3) transfers of money under IC 4-33-13-2.5(b)(1);
(4) deposits required under section 5(a) and 5(b) of this chapter; and
(5) gifts, grants, donations, or other contributions from any other public or private source.
(c) The development authority shall administer the fund.
(d) The treasurer of state shall invest the money in the fund not currently needed to meet the obligations of the fund in the same manner as other public funds may be invested.
(e) The money remaining in the fund at the end of a state fiscal year does not revert to the state general fund.
(f) Money in the fund is continuously appropriated for the purposes of this chapter.
As added by P.L.195-2023, SEC.6.
