Indiana Code 8-5-15-25. Capital improvement contingency fund
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Sec. 25. (a) The capital improvement contingency fund is established for the purpose of:
(2) matching state or federal transportation grants made to permit the acquisition of capital assets;
(1) receiving taxes, appropriations, and other revenues;
Terms Used In Indiana Code 8-5-15-25
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Fiduciary: A trustee, executor, or administrator.
- 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.
- Revenues: means all fees, tolls, rentals, gifts, grants, money, and all other funds coming into the possession or under the control of the board by virtue of this chapter, but does not include real property or personal property other than money, nor the proceeds from the sale of bonds issued under this chapter. See Indiana Code 8-5-15-1
(3) acquiring capital improvements or assets; or
(4) receiving, holding, and disbursing funds as a fiduciary.
(b) Money in the fund at the end of a fiscal year does not revert to the state general fund.
As added by P.L.385-1987(ss), SEC.17.