Indiana Code 8-10-2-3. Indiana port fund; management and disbursements
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Terms Used In Indiana Code 8-10-2-3
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Statute: A law passed by a legislature.
- Trustee: A person or institution holding and administering property in trust.
Sec. 3. Subject to the approval of the governor, the budget agency, and the budget committee, the ports of Indiana may, notwithstanding the provisions of IC 8-10-1-12 or the provisions of any other statute relating to or appropriating money to the Indiana port fund, expend moneys without further appropriation than the provisions of this chapter from the Indiana port fund for the operation and maintenance of a “port” or “port project” as those terms are defined in this article, and in connection with the issuance of bonds, may covenant to set aside and may set aside moneys from the Indiana port fund in a separate fund or account with a corporate trustee or otherwise to be applied on the cost of such operation and maintenance.
Formerly: Acts 1967, c.210, s.3. As amended by P.L.66-1984, SEC.16; P.L.98-2008, SEC.41.