Sec. 4. (a) The
airport development
grant fund and the airport development revolving
loan fund are established for the purposes of this chapter. The department shall administer the two (2) funds.
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Terms Used In Indiana Code 8-21-11-4
- airport: means a public use airport (as defined in Indiana Code 8-21-11-1
- 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.
- grant fund: refers to the airport development grant fund. See Indiana Code 8-21-11-2
- loan fund: refers to the airport development revolving loan fund. See Indiana Code 8-21-11-3
(c) The treasurer of state shall invest the money in each 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 that earns the interest.
(d) Money in a fund at the end of a state fiscal year does not revert to the state general fund.
As added by P.L.34-1990, SEC.2.
