Indiana Code 16-20-6-4. Real property acquisition; surplus funds; tax for maintenance
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Sec. 4. (a) Real property and easements or appurtenances may be acquired by any of the following methods:
(2) Purchase with money accepted for that purpose.
(1) Gift as provided in section 1 of this chapter.
Terms Used In Indiana Code 16-20-6-4
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Statute: A law passed by a legislature.
(3) Condemnation proceedings as prescribed by statute.
(b) Upon condemnation, all damages must be paid from the money accepted as provided in section 1 of this chapter. All money remaining in the account after the construction and equipment of the building may be used for the maintenance of the building. The county or city may levy a tax sufficient to maintain the buildings when constructed as provided in this chapter.
[Pre-1993 Recodification Citation: 16-1-5.1-3 part.]
As added by P.L.2-1993, SEC.3.