Section 14-33-7-7 - Costs of establishing district; loans and advances(a) To pay the costs of establishing a district, including general, legal, and administrative costs and costs incident to preparing the district plan, money may be obtained from one (1) or a combination of the following methods:(1) Gifts, loans, or grants from a state or federal agency, or both.(2) Gifts from any source.(3) The collection of the special benefit tax.(4) Borrowing from private or public sources in anticipation of the collection of the tax.(5) Advances from the general fund of the county under section 15 of this chapter.(6) Borrowing from the economic development fund created by IC 5-28-8 for any of the purposes in IC 14-33-1-1.(7) Borrowing from the flood control fund created by IC 5-1.2-13 for any of the purposes in IC 14-33-1-1.(b) All persons, agencies, and departments charged with the administration and supervision of funds such as those created by IC 5-28-8 and IC 5-1.2-13 may make loans and advances to a district. The procedures, terms, and conditions of the loans must be the same as provided in the statutes establishing the funds but shall be modified and supplemented to fit this article to facilitate the financing of districts.(c) This section does not preclude the borrowing of money for the following: (1) Establishing the district.(2) General, legal, and administrative costs.(3) Costs incident to preparing the district plan in conjunction with borrowing of money to pay construction costs.Pre-1995 Recodification Citation: 13-3-3-65.
Amended by P.L. 189-2018,SEC. 139, eff. 7/1/2018.As added by P.L. 1-1995, SEC.26. Amended by P.L. 4-2005, SEC.127.