1-41 to provide money for:(1) building, remodeling, and repair of park and recreation facilities; or(2) purchase of land for park and recreation purposes.In addition to the requirements of IC 6-1.1-41, before a fund may be established, the proposed action must be approved by the fiscal body of the unit.(b) To provide for the cumulative building fund, the unit's fiscal body may levy a tax in compliance with IC 6-1.1-41 not to exceed one and sixty-seven hundredths cents ($0.0167) on each one hundred dollars ($100) of assessed valuation of taxable property within the unit.(c) The tax shall be collected and held in a special fund known as the unit's park and recreation cumulative building fund.[Pre-Local Government Recodification Citation: 19-7-4-25.5.]As added by Acts 1981, P.L.309, SEC.110. Amended by Acts 1981, P.L.45, SEC.93; P.L.358-1987, SEC.2; P.L.17-1995, SEC.42; P.L.6-1997, SEC.231.
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