{"data":{"id":"us-in/ic-5-13-9.3-3","jurisdiction":"us-in","citation":"IC 5-13-9.3-3","heading":"Investment of proceeds from certain capital assets; ordinance or resolution","body":"Sec. 3. (a) Subject to the requirements of this chapter, the fiscal body of a political subdivision may adopt an ordinance (in the case of a county or municipality) or a resolution (in the case of any other political subdivision) to authorize the investment of proceeds from the sale of a capital asset owned by the political subdivision. A fiscal body may adopt an ordinance under this subsection before, after, or at the time of the sale of the capital asset.\n(b) Proceeds from the sale of a capital asset owned by a political subdivision may be invested as provided in this chapter only if:\n(1) either:\n(A) the total amount received (either before July 1, 2015, or after June 30, 2015) or that will be received from the sale of the capital asset exceeds fifty million dollars ($50,000,000); or\n(B) in the case of a town, the total amount received from the sale of the capital asset after December 15, 2021, and before January 1, 2023, exceeds twenty-four million dollars ($24,000,000) but does not exceed twenty-six million dollars ($26,000,000); and\n(2) the fiscal body of the political subdivision has adopted an ordinance or a resolution, as described in subsection (a), that applies to the investment of proceeds from the sale of that particular capital asset.","path":["TITLE 5. STATE AND LOCAL ADMINISTRATION","ARTICLE 13. INVESTMENT OF PUBLIC FUNDS","Chapter 9.3. Investment of Proceeds Received From the Sale of Certain Capital Assets"],"source_url":"https://iga.in.gov/ic/2026/Title_5.html#5-13-9.3-3","current_through":"2026","vintage":"2026","retrieved_at":"2026-09-02T16:11:39Z","sha256":"17e0fc2ce2165e2d635351711686119367547c4b6c4ef1a3f50f746b16b0057f","source_id":"us-in","stale":false,"prev":"us-in/ic-5-13-9.3-2","next":"us-in/ic-5-13-9.3-4"},"notice":"GroundRules: Original legal text. Not legal advice."}