(a) Following the payment in full of the costs of the county jail and judicial complex, including the retirement of any financing and indebtedness, or beginning October 1, 2030, whichever occurs sooner, all taxes collected under this subpart shall be distributed each month as follows: (1) The monies collected inside the corporate limits of the City of Troy shall be transferred to the City of Troy to be used for expenses of the City of Troy. (2) The monies collected outside the corporate limits of the City of Troy shall be maintained by Pike County to be used for expenses of Pike County. (b) All distributions shall be subject and subordinate, in all respects, to any indebtedness that is secured by a pledge of proceeds of a tax authorized by this subpart.
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