Section 36-10-7.5-19 - Township park and recreation cumulative building fund(a) The fiscal body may establish a cumulative building fund under IC 6-1.1-41 to provide money for: (1) building, remodeling, and repair of park and recreation facilities; or(2) purchase of land for park and recreation purposes.(b) To provide for the cumulative building fund, the township fiscal body may levy a tax in compliance with IC 6-1.1-41 not greater than one and sixty-seven hundredths cents ($0.0167) on each one hundred dollars ($100) of assessed valuation of taxable property within the township.(c) The tax shall be collected and held in a special fund known as the township park and recreation cumulative building fund.As added by P.L. 157-1991, SEC.15. Amended by P.L. 17-1995, SEC.44; P.L. 6-1997, SEC.237.