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Indiana Code Title 16. Health § 16-23-1-24

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 24. (a) If the city fiscal body authorizes the borrowing by ordinance, the board of directors may borrow money by negotiating a temporary loan in anticipation of taxes already levied and in process of collection or distribution in the current year.

(b) The notes, warrants, or other evidences of indebtedness must:

(1) be executed by the city executive and attested by the clerk-treasurer;  and

(2) be payable not later than the end of the calendar year in which the auditor of the county or the clerk-treasurer of the city will collect and distribute the taxes in anticipation of which the temporary loan is made and the money borrowed.

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Cite this article: FindLaw.com - Indiana Code Title 16. Health § 16-23-1-24 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-16-health/in-code-sect-16-23-1-24/

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