Section 36-1-8-9 - Riverboat fund establishment; administration and investment of funds(a) Each unit that receives: (1) tax revenue under IC 4-33-12-6 or IC 4-33-13;(2) revenue under an agreement to share the tax revenue received under IC 4-33-12 or IC 4-33-13 by another unit; or(3) revenue under a development agreement (as defined in section 9.5 of this chapter); may establish a riverboat fund. Money in the fund may be used for any legal or corporate purpose of the unit.
(b) The riverboat fund established under subsection (a) shall be administered by the unit's treasurer, and the expenses of administering the fund shall be paid from money in the fund. Money in the fund not currently needed to meet the obligations of the fund may be invested in the same manner as other public funds may be invested. Interest that accrues from these investments shall be deposited in the fund. Money in the fund at the end of a particular fiscal year does not revert to the unit's general fund.As added by P.L. 90-1997, SEC.7. Amended by P.L. 199-2005, SEC.28.