Coliseum expansion fund; deposits
Sec. 8. (a) If a tax is imposed under section 3 of this chapter, the
county treasurer shall establish a coliseum expansion fund. The
county treasurer shall deposit in this fund all amounts received from
the tax imposed under this chapter. Money in this fund may be
appropriated only to retire any bonds issued, loans obtained, or lease
payments incurred under IC 36-1-10 (referred to in this chapter as
"obligations") to remodel, expand, improve, or acquire:
(A) an athletic and exhibition coliseum in existence before
the effective day of an ordinance adopted under section 3 of
this chapter; or
(B) if approved by an ordinance of the county fiscal body
(other than an appropriations ordinance), an athletic and
exhibition coliseum in existence before January 1, 1998.
(b) Obligations entered into for the acquisition, expansion,
remodeling, and improvement of an athletic and exhibition coliseum
shall be retired by using money collected from a tax imposed under
this chapter.
As added by P.L.77-1986, SEC.1. Amended by P.L.38-1998, SEC.7;
P.L.46-1998, SEC.8; P.L.8-2000, SEC.2.
Last modified: May 28, 2006