Sec. 10. (a) The county fiscal body may establish a debt service fund for the payment of: (1) a debt or other obligation arising out of money borrowed or advanced for a jail that it purchases from the proceeds of a bond issue for capital construction under IC 36-2-6-18 ; or (2) a lease to provide capital construction under IC 36-1-10 . (b) The county fiscal body shall levy a tax each year in an amount sufficient to pay all debt service obligations for jails for that year. IC 6-1.1-18.5-8 applies to such a tax levy. [Pre-Local Government Recodification Citation: 17-3-84.8-1.] IC 36-9-15.5 Chapter 15.5. Municipal Cumulative Capital Development Fund 36-9-15.5-1 Application of chapter 36-9-15.5-2 Authorization of fund; purpose 36-9-15.5-3 Repealed 36-9-15.5-4 Repealed 36-9-15.5-5 Repealed 36-9-15.5-6 Tax levy; rate of tax 36-9-15.5-7 Repealed 36-9-15.5-8 Cumulative capital development fund; transfer between funds; expenditures
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