Indiana Code 36-10-7.5-19. Township park and recreation cumulative building fund
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Sec. 19. (a) The fiscal body may establish a cumulative building fund under IC 6-1.1-41 to provide money for:
(2) purchase of land for park and recreation purposes.
(1) building, remodeling, and repair of park and recreation facilities; or
Terms Used In Indiana Code 36-10-7.5-19
- Property: includes personal and real property. See Indiana Code 1-1-4-5
(b) To provide for the cumulative building fund, the township fiscal body may levy a tax in compliance with IC 6-1.1-41 not greater than one and sixty-seven hundredths cents ($0.0167) on each one hundred dollars ($100) of assessed valuation of taxable property within the township.
(c) The tax shall be collected and held in a special fund known as the township park and recreation cumulative building fund.
As added by P.L.157-1991, SEC.15. Amended by P.L.17-1995, SEC.44; P.L.6-1997, SEC.237.