1. (a) "Public funds" means money:

   1. (1) derived from the revenue sources of the governmental body; and
   2. (2) deposited into the general or a special fund of the governmental body.

2. (b) The term does not include either of the following:

   1. (1) Money received by a person under an authorized public-private agreement under IC 5-23 .
   2. (2) Proceeds of bonds payable exclusively by, or used by, a private entity.

As added by P.L.49-1997, SEC.1. Amended by P.L.255-2017, SEC.2; P.L.156-2024, SEC.3.