IC 36-9-17.5
    Chapter 17.5. Cumulative Township Vehicle and Building Fund

IC 36-9-17.5-1
Applicability of chapter
    Sec. 1. This chapter applies to all townships.
As added by P.L.129-1999, SEC.2.

IC 36-9-17.5-2
Establishment and purpose
    Sec. 2. A township may establish a cumulative township vehicleand building fund under IC 6-1.1-41 to provide money to:
        (1) acquire township vehicles;
        (2) purchase, construct, equip, and maintain buildings for publicpurposes;
        (3) acquire the land and any improvements on the land that arenecessary for the construction of public buildings;
        (4) demolish any improvements on land acquired under thissection and level, grade, and prepare the land for theconstruction of a public building;
        (5) acquire land or rights-of-way to be used as a public way orother means of ingress or egress to land acquired for theconstruction of a public building; and
        (6) improve or construct any public way or other means ofingress or egress to land acquired for the construction of apublic building.
As added by P.L.129-1999, SEC.2.

IC 36-9-17.5-3
Deposit of revenues
    Sec. 3. (a) The following revenues may be deposited in thecumulative township vehicle and building fund:
        (1) All or part of the revenues from a property tax levydedicated for township vehicle and building purposes.
        (2) Other sources of revenue specified by resolution of thetownship legislative body.
    (b) Appropriations may be made from the cumulative townshipvehicle and building fund only for the purposes specified in section2 of this chapter.
    (c) Money in the cumulative township vehicle and building funddoes not revert to the township general fund at the end of a townshipfiscal year.
As added by P.L.129-1999, SEC.2.

IC 36-9-17.5-4
Tax levied to provide for fund
    Sec. 4. (a) To provide for the cumulative township vehicle andbuilding fund authorized under this chapter, the legislative body ofa township may levy a tax on all taxable property within thetownship in compliance with IC 6-1.1-41. The tax rate may not

exceed five cents ($0.05) on each one hundred dollars ($100) ofassessed valuation of property in the township for property taxes firstdue and payable before January 1, 2002, or one and sixty-sevenhundredths cents ($0.0167) on each one hundred dollars ($100) ofassessed valuation of property in the township for property taxes firstdue and payable after December 31, 2001.
    (b) As the tax is collected, it shall be deposited in a qualifiedpublic depository or depositories and held in a special fund knownas the cumulative township vehicle and building fund.
As added by P.L.129-1999, SEC.2.

IC 36-9-17.5-5
Property tax levy limits
    Sec. 5. Notwithstanding any other law, the property tax levy limitsimposed under IC 6-1.1-18.5-3 apply to property taxes imposed bya township under this chapter. For purposes of computing theproperty tax levy limit imposed on the township underIC 6-1.1-18.5-3, the township's property tax levy for a particularcalendar year includes the levy imposed under this chapter.
As added by P.L.129-1999, SEC.2.