Ind. Code § 36-9-11-22

Current through P.L. 171-2024

Section 36-9-11-22 - Bond revenues and revenues pledged to pay bonds considered trust funds

The money provided by the issuance of revenue bonds under this chapter, the revenues of parking facilities, and all other revenues pledged to the payment of the interest on and principal of the revenue bonds are considered trust funds, and shall be held and applied only as provided in this chapter or in the ordinance authorizing the issuance of revenue bonds. This money shall be deposited in depositories selected by the municipality in the manner provided by IC 5-13-6, but may be invested in the manner provided by IC 5-13-9.

IC 36-9-11-22

Pre-Local Government Recodification Citation: 19-5-11-10 part.

As added by Acts1981 , P.L. 309, SEC.84. Amended by P.L. 19-1987, SEC.54.