Indianapolis-Marion County Revised Code § 135-741 Created.
Sec. 135-741. - Created.
(a) There is hereby created a capital project fund, to be designated the "capital asset lifecycle and development fund". The fund shall be a capital project fund," in the office of finance and management.
(b) This fund shall be a continuing fund, with all balances remaining therein at the end of each calendar year, and no such balances shall lapse into any fund or ever be diverted, directly or indirectly, in any manner to any other uses than for the purposes stated in subsection (c) of this division.
(c) The purpose of the fund is to provide funding for capital assets for city and county agencies and departments. Capital assets include the following:
(1) Vehicles
(2) Equipment
(3) Buildings
(4) Lease Agreements
(5) Construction, and
(6) Other items deemed appropriate by the city-county council.
(d) The office of finance and management shall administer the fund.
(e) Revenues for the fund may include the following:
(1) Revenues from operating agreements between the city-county and outside contractors,
(2) Revenues from bond or lease reserve accounts upon termination of the reserve requirement,
(3) Remaining unappropriated balances in funds discontinued for use,
(4) County option incomes taxes, and
(5) Other fees and revenues,
If so allocated by the city county council.
(f) Expenses from the fund shall be appropriated by the city-county council in accordance with the procedures for expenditures of public funds and shall not lapse until the controller of the City of Indianapolis certifies to the city-county council that encumbered balances in the fund have been released.
(G.O. 25, 2009, § 1; G.O. 14, 2010, § 1; G.O. 15, 2021, § 1)