Indiana Code 8-1.5-5-22. Special benefit tax
(1) after approval by the fiscal body of the unit served by the department, shall levy a special benefit tax upon all the property of the storm water district in the amount necessary to meet and pay the principal of the bonds as they severally mature, together with all accruing interest; and
Terms Used In Indiana Code 8-1.5-5-22
- board: means the following:
Indiana Code 8-1.5-5-2
- department: means the following:
Indiana Code 8-1.5-5-3
- district: means the special taxing district established by section 5 of this chapter. See Indiana Code 8-1.5-5-3.5
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
The tax levied and certified shall be estimated and entered upon the tax duplicate and shall be collected and enforced in the same manner as state and county taxes are estimated, entered, and enforced.
(b) In fixing the amount of the necessary levy, the board:
(1) shall consider the amount of revenues derived by the board from the operation of the storm water system under its jurisdiction above the amount of revenues required to pay the cost of operation and maintenance of the storm water system; and
(2) may, in lieu of making the levy in this section, set aside by resolution a specific amount of the surplus revenues to be collected before maturity of the principal and interest of the bonds payable in the following calendar year.
(c) The special tax shall be deposited in the bond and interest redemption account.
As added by P.L.125-1987, SEC.1. Amended by P.L.282-2003, SEC.17.