Indiana Code 36-9-4-48. Cumulative transportation fund; establishment; notice; tax levy
(1) the legislative body of a municipality that:
Terms Used In Indiana Code 36-9-4-48
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Property: includes personal and real property. See Indiana Code 1-1-4-5
(B) has purchased buses for operation under lease by an urban mass transportation system; or
(2) the board of directors of a public transportation corporation.
(b) In addition to other notices required under IC 6-1.1-41, notices of hearings under IC 6-1.1-41 must be given to the following:
(1) the municipal executive, for a tax levy by a municipality; and
(2) the chair of the board of directors, for a tax levy by a public transportation corporation.
(c) A tax levy to finance the cumulative transportation fund may be levied in compliance with IC 6-1.1-41. The tax levied under this section may not exceed six and sixty-seven hundredths cents ($0.0667) on each one hundred dollars ($100) of taxable property within the corporate boundaries of the municipality or the taxing district of the public transportation corporation, as the case may be.
[Pre-Local Government Recodification Citations: 19-5-2-30.4; 19-5-2-30.5; 19-5-2-30.6.]
As added by Acts 1981, P.L.309, SEC.77. Amended by Acts 1981, P.L.45, SEC.40; P.L.17-1995, SEC.24; P.L.6-1997, SEC.216; P.L.127-2017, SEC.285.