Indiana Code 8-14-11-8. Establishment of fund; administration
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Sec. 8. (a) The local bridge grant fund is established to:
(2) pay the costs of administering this chapter.
(1) provide grants to counties for the construction and reconstruction of local bridges; and
Terms Used In Indiana Code 8-14-11-8
- construction: means the building of a local bridge to the extent that new, supplementary, or substantially improved traffic service is provided. See Indiana Code 8-14-11-2
- department: refers to the Indiana department of transportation. See Indiana Code 8-14-11-3
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- fund: refers to the local bridge grant fund established by section 8 of this chapter. See Indiana Code 8-14-11-5
- local bridge: means a structure that:
Indiana Code 8-14-11-6
- reconstruction: includes the resurfacing and rebuilding of a local bridge to the extent that significant structural improvements result. See Indiana Code 8-14-11-7
The fund shall be administered by the department.
(b) The treasurer of state shall invest the money in the fund not currently needed to meet the obligations of the fund in the same manner as other public funds may be invested. Interest that accrues from these investments shall be deposited in the fund.
(c) Money in the fund at the end of a fiscal year does not revert to the state general fund.
As added by P.L.117-1989, SEC.1.