IC 6-1.1-20.2
Chapter 20.2. Rainy Day Fund Loans to Certain Counties
IC 6-1.1-20.2-1 "Board"
Sec. 1. As used in this chapter, "board" refers to the state board of
finance. As added by P.L.182-2009(ss), SEC.150.
IC 6-1.1-20.2-2 "Eligible county"
Sec. 2. As used in this chapter, "eligible county" refers to a county
in which voting equipment has been damaged or destroyed in a
natural disaster. As added by P.L.182-2009(ss), SEC.150.
IC 6-1.1-20.2-3 Eligible county may apply to board for loan
Sec. 3. An eligible county, with the approval of the fiscal body of
the eligible county, may apply to the board for a loan from the
counter-cyclical revenue and economic stabilization fund. As added by P.L.182-2009(ss), SEC.150.
IC 6-1.1-20.2-4 Board determines terms of any loan after review by budget
committee
Sec. 4. Subject to this chapter, the board, after review by the
budget committee, shall determine the terms of any loan made under
this chapter. As added by P.L.182-2009(ss), SEC.150.
IC 6-1.1-20.2-5 Interest on loan
Sec. 5. Interest may be imposed on the loan at a rate determined
by the board. As added by P.L.182-2009(ss), SEC.150.
IC 6-1.1-20.2-6 Term of loan repayment; penalty
Sec. 6. An eligible county receiving a loan under this chapter must
repay the loan within seventy-two (72) months after the date on
which the loan is made. No penalty may be imposed for repaying a
loan before the term of the loan. As added by P.L.182-2009(ss), SEC.150.
IC 6-1.1-20.2-7 Disbursement of loan proceeds by board
Sec. 7. The board may disburse in installments the proceeds of a
loan made under this chapter. As added by P.L.182-2009(ss), SEC.150. IC 6-1.1-20.2-8 Repayment of loan by eligible county from any revenue sources
Sec. 8. An eligible county may repay a loan made under this
chapter from any sources of revenue. As added by P.L.182-2009(ss), SEC.150.
IC 6-1.1-20.2-9 Obligation to repay loan not basis to obtain excessive tax levy
Sec. 9. The obligation to repay a loan made under this chapter is
not a basis for the eligible county to obtain an excessive tax levy. As added by P.L.182-2009(ss), SEC.150.
IC 6-1.1-20.2-10 Deposit by board of loan payments
Sec. 10. Whenever the board receives a payment on a loan made
under this chapter, the board shall deposit the amount paid in the
counter-cyclical revenue and economic stabilization fund. As added by P.L.182-2009(ss), SEC.150.
IC 6-1.1-20.2-11 Loan proceeds received not considered part of levy excess
Sec. 11. The proceeds of a loan received by an eligible county
under this chapter are not considered to be part of the ad valorem
property tax levy actually collected by the eligible county for taxes
first due and payable during a particular calendar year for the
purpose of calculating levy excess. As added by P.L.182-2009(ss), SEC.150.
IC 6-1.1-20.2-12 Chapter constitutes complete authority for loans
Sec. 12. The notes and the authorization, issuance, sale, and
delivery of the notes are not subject to any general statute concerning
obligations issued by the local governmental entity borrower. This
chapter contains full and complete authority for the making of the
loan, the authorization, issuance, sale, and delivery of the notes, and
the repayment of the loan by the borrower, and no law, procedure,
proceedings, publications, notices, consents, approvals, orders, or
acts by any officer, department, agency, or instrument of the state or
of any political subdivision is required to make the loan, issue the
notes, or repay the loan except as prescribed in this chapter. As added by P.L.182-2009(ss), SEC.150.
IC 6-1.1-20.2-13 Treasurer of state payment of delinquent loan payments from
eligible county funds held by state
Sec. 13. Upon the failure of an eligible county to make any of the
eligible county's payments on a loan granted under this chapter when
due, the treasurer of state, upon being notified of the failure by the
board, may pay the unpaid amount that is due from the funds held by
the state that would be otherwise distributable to the eligible county.
As added by P.L.182-2009(ss), SEC.150.
IC 6-1.1-20.2-14 Restriction on use of loans
Sec. 14. Notwithstanding any other provision of this chapter, if an
eligible county receives a loan under this chapter from the
counter-cyclical revenue and economic stabilization fund (rainy day
fund), the money must be used to replace voting equipment damaged
by a flood and may not be used to equip any voting centers. As added by P.L.182-2009(ss), SEC.516.
IC 6-1.1-20.2
Chapter 20.2. Rainy Day Fund Loans to Certain Counties
IC 6-1.1-20.2-1 "Board"
Sec. 1. As used in this chapter, "board" refers to the state board of
finance. As added by P.L.182-2009(ss), SEC.150.
IC 6-1.1-20.2-2 "Eligible county"
Sec. 2. As used in this chapter, "eligible county" refers to a county
in which voting equipment has been damaged or destroyed in a
natural disaster. As added by P.L.182-2009(ss), SEC.150.
IC 6-1.1-20.2-3 Eligible county may apply to board for loan
Sec. 3. An eligible county, with the approval of the fiscal body of
the eligible county, may apply to the board for a loan from the
counter-cyclical revenue and economic stabilization fund. As added by P.L.182-2009(ss), SEC.150.
IC 6-1.1-20.2-4 Board determines terms of any loan after review by budget
committee
Sec. 4. Subject to this chapter, the board, after review by the
budget committee, shall determine the terms of any loan made under
this chapter. As added by P.L.182-2009(ss), SEC.150.
IC 6-1.1-20.2-5 Interest on loan
Sec. 5. Interest may be imposed on the loan at a rate determined
by the board. As added by P.L.182-2009(ss), SEC.150.
IC 6-1.1-20.2-6 Term of loan repayment; penalty
Sec. 6. An eligible county receiving a loan under this chapter must
repay the loan within seventy-two (72) months after the date on
which the loan is made. No penalty may be imposed for repaying a
loan before the term of the loan. As added by P.L.182-2009(ss), SEC.150.
IC 6-1.1-20.2-7 Disbursement of loan proceeds by board
Sec. 7. The board may disburse in installments the proceeds of a
loan made under this chapter. As added by P.L.182-2009(ss), SEC.150. IC 6-1.1-20.2-8 Repayment of loan by eligible county from any revenue sources
Sec. 8. An eligible county may repay a loan made under this
chapter from any sources of revenue. As added by P.L.182-2009(ss), SEC.150.
IC 6-1.1-20.2-9 Obligation to repay loan not basis to obtain excessive tax levy
Sec. 9. The obligation to repay a loan made under this chapter is
not a basis for the eligible county to obtain an excessive tax levy. As added by P.L.182-2009(ss), SEC.150.
IC 6-1.1-20.2-10 Deposit by board of loan payments
Sec. 10. Whenever the board receives a payment on a loan made
under this chapter, the board shall deposit the amount paid in the
counter-cyclical revenue and economic stabilization fund. As added by P.L.182-2009(ss), SEC.150.
IC 6-1.1-20.2-11 Loan proceeds received not considered part of levy excess
Sec. 11. The proceeds of a loan received by an eligible county
under this chapter are not considered to be part of the ad valorem
property tax levy actually collected by the eligible county for taxes
first due and payable during a particular calendar year for the
purpose of calculating levy excess. As added by P.L.182-2009(ss), SEC.150.
IC 6-1.1-20.2-12 Chapter constitutes complete authority for loans
Sec. 12. The notes and the authorization, issuance, sale, and
delivery of the notes are not subject to any general statute concerning
obligations issued by the local governmental entity borrower. This
chapter contains full and complete authority for the making of the
loan, the authorization, issuance, sale, and delivery of the notes, and
the repayment of the loan by the borrower, and no law, procedure,
proceedings, publications, notices, consents, approvals, orders, or
acts by any officer, department, agency, or instrument of the state or
of any political subdivision is required to make the loan, issue the
notes, or repay the loan except as prescribed in this chapter. As added by P.L.182-2009(ss), SEC.150.
IC 6-1.1-20.2-13 Treasurer of state payment of delinquent loan payments from
eligible county funds held by state
Sec. 13. Upon the failure of an eligible county to make any of the
eligible county's payments on a loan granted under this chapter when
due, the treasurer of state, upon being notified of the failure by the
board, may pay the unpaid amount that is due from the funds held by
the state that would be otherwise distributable to the eligible county.
As added by P.L.182-2009(ss), SEC.150.
IC 6-1.1-20.2-14 Restriction on use of loans
Sec. 14. Notwithstanding any other provision of this chapter, if an
eligible county receives a loan under this chapter from the
counter-cyclical revenue and economic stabilization fund (rainy day
fund), the money must be used to replace voting equipment damaged
by a flood and may not be used to equip any voting centers. As added by P.L.182-2009(ss), SEC.516.
IC 6-1.1-20.2
Chapter 20.2. Rainy Day Fund Loans to Certain Counties
IC 6-1.1-20.2-1 "Board"
Sec. 1. As used in this chapter, "board" refers to the state board of
finance. As added by P.L.182-2009(ss), SEC.150.
IC 6-1.1-20.2-2 "Eligible county"
Sec. 2. As used in this chapter, "eligible county" refers to a county
in which voting equipment has been damaged or destroyed in a
natural disaster. As added by P.L.182-2009(ss), SEC.150.
IC 6-1.1-20.2-3 Eligible county may apply to board for loan
Sec. 3. An eligible county, with the approval of the fiscal body of
the eligible county, may apply to the board for a loan from the
counter-cyclical revenue and economic stabilization fund. As added by P.L.182-2009(ss), SEC.150.
IC 6-1.1-20.2-4 Board determines terms of any loan after review by budget
committee
Sec. 4. Subject to this chapter, the board, after review by the
budget committee, shall determine the terms of any loan made under
this chapter. As added by P.L.182-2009(ss), SEC.150.
IC 6-1.1-20.2-5 Interest on loan
Sec. 5. Interest may be imposed on the loan at a rate determined
by the board. As added by P.L.182-2009(ss), SEC.150.
IC 6-1.1-20.2-6 Term of loan repayment; penalty
Sec. 6. An eligible county receiving a loan under this chapter must
repay the loan within seventy-two (72) months after the date on
which the loan is made. No penalty may be imposed for repaying a
loan before the term of the loan. As added by P.L.182-2009(ss), SEC.150.
IC 6-1.1-20.2-7 Disbursement of loan proceeds by board
Sec. 7. The board may disburse in installments the proceeds of a
loan made under this chapter. As added by P.L.182-2009(ss), SEC.150. IC 6-1.1-20.2-8 Repayment of loan by eligible county from any revenue sources
Sec. 8. An eligible county may repay a loan made under this
chapter from any sources of revenue. As added by P.L.182-2009(ss), SEC.150.
IC 6-1.1-20.2-9 Obligation to repay loan not basis to obtain excessive tax levy
Sec. 9. The obligation to repay a loan made under this chapter is
not a basis for the eligible county to obtain an excessive tax levy. As added by P.L.182-2009(ss), SEC.150.
IC 6-1.1-20.2-10 Deposit by board of loan payments
Sec. 10. Whenever the board receives a payment on a loan made
under this chapter, the board shall deposit the amount paid in the
counter-cyclical revenue and economic stabilization fund. As added by P.L.182-2009(ss), SEC.150.
IC 6-1.1-20.2-11 Loan proceeds received not considered part of levy excess
Sec. 11. The proceeds of a loan received by an eligible county
under this chapter are not considered to be part of the ad valorem
property tax levy actually collected by the eligible county for taxes
first due and payable during a particular calendar year for the
purpose of calculating levy excess. As added by P.L.182-2009(ss), SEC.150.
IC 6-1.1-20.2-12 Chapter constitutes complete authority for loans
Sec. 12. The notes and the authorization, issuance, sale, and
delivery of the notes are not subject to any general statute concerning
obligations issued by the local governmental entity borrower. This
chapter contains full and complete authority for the making of the
loan, the authorization, issuance, sale, and delivery of the notes, and
the repayment of the loan by the borrower, and no law, procedure,
proceedings, publications, notices, consents, approvals, orders, or
acts by any officer, department, agency, or instrument of the state or
of any political subdivision is required to make the loan, issue the
notes, or repay the loan except as prescribed in this chapter. As added by P.L.182-2009(ss), SEC.150.
IC 6-1.1-20.2-13 Treasurer of state payment of delinquent loan payments from
eligible county funds held by state
Sec. 13. Upon the failure of an eligible county to make any of the
eligible county's payments on a loan granted under this chapter when
due, the treasurer of state, upon being notified of the failure by the
board, may pay the unpaid amount that is due from the funds held by
the state that would be otherwise distributable to the eligible county.
As added by P.L.182-2009(ss), SEC.150.
IC 6-1.1-20.2-14 Restriction on use of loans
Sec. 14. Notwithstanding any other provision of this chapter, if an
eligible county receives a loan under this chapter from the
counter-cyclical revenue and economic stabilization fund (rainy day
fund), the money must be used to replace voting equipment damaged
by a flood and may not be used to equip any voting centers. As added by P.L.182-2009(ss), SEC.516.
