2023 Indiana Code › Title 6. Taxation › Article 9. Innkeeper's Taxes; Other Local Taxes › Chapter 33. Allen County Supplemental Food and Beverage Tax › 6-9-33-8. Supplemental Coliseum Improvement Fund; Food and Beverage Tax Fund; Excess Revenue

Sec. 8. (a) If a tax is imposed under section 3 of this chapter, the county treasurer shall establish a supplemental coliseum improvement fund. The county treasurer shall deposit in this fund all amounts received from the tax imposed under this chapter. Money in this fund:
(1) may be appropriated only to retire or advance refund bonds issued, loans obtained, or lease payments incurred under IC 36-1-10 (referred to in this chapter as "obligations") to remodel, expand, improve, or acquire an athletic and exhibition coliseum in existence before the effective date of an ordinance adopted under section 3 of this chapter; and
(2) shall be used to make transfers required by subsection (b).
(b) There is established a food and beverage tax fund, with a food and beverage tax reserve account, both to be administered by the capital improvement board of managers (IC 36-10-8). The money that is deposited in the supplemental coliseum improvement fund after December 31, 2009, and is not needed in a year to make payments on obligations for which a pledge of revenue under this chapter was made before January 1, 2009, shall be transferred to the capital improvement board. The county treasurer shall make the transfer before February 1 of the following year. The capital improvement board shall deposit the money it receives in the board's food and beverage tax fund reserve account. Money in the reserve account may not be withdrawn or transferred during the year it is received except to make transfers back to the county to make payments on obligations for which a pledge of revenue under this chapter was made before January 1, 2009. However, the capital improvement board may transfer:
(1) interest earned on money in the reserve account; and
(2) an amount equal to the balance that has been held in the reserve account for at least twelve (12) months;
to the board's food and beverage tax fund and used as provided in subsection (c).
(c) Excess revenue transferred under subsection (b) to the capital improvement board of managers may be used to provide funding for:
(1) the construction of a capital improvement (as defined in IC 36-10-1-4);
(2) an economic development project as described in:
(A) IC 6-3.6-2-8(1) or IC 6-3.6-2-8(2)(A) through IC 6-3.6-2-8(2)(I); and
(B) IC 6-3.6-2-8(2)(K); or
(3) financing a capital improvement or an economic development project described in subdivision (1) or (2).
In carrying out this subsection, the capital improvement board may borrow against future tax revenue that will be collected under this chapter. In addition, the capital improvement board may use an amount not to exceed one hundred thousand dollars ($100,000) annually from the tax revenue collected under this chapter to pay expenses related to investigating a potential capital improvement or economic development project, including feasibility and preliminary engineering studies related to such a capital improvement or economic development project.
(d) Excess revenue transferred under subsection (b) to the capital improvement board of managers may not be used to:
(1) provide funding for improvements initiated before January 1, 2009, that are located in the area bounded on the north by Jefferson Boulevard, on the east by Harrison Street, on the south by Breckenridge Street, and on the west by Ewing Street as those public ways were located on January 1, 2009, as part of the Harrison Square project;
(2) provide for debt service or lease payments for a project for which the obligations for the project were incurred before January 1, 2009; or
(3) pay operational expenses for any facilities of the municipality.
As added by P.L.8-2000, SEC.3. Amended by P.L.176-2009, SEC.18; P.L.229-2011, SEC.98; P.L.137-2012, SEC.111; P.L.197-2016, SEC.80.