(a) The county fiscal body may establish a debt service fund for the payment of:

1. (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. (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.]

As added by Acts 1981, P.L.309, SEC.88. Amended by P.L.73-1983, SEC.21.