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Indiana Code Title 36. Local Government § 36-1-15-2

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

Sec. 2. It is the intent of the general assembly that the amount of debt incurred by a political subdivision after February 28, 2001, not exceed, in the aggregate, the amount of debt that the political subdivision could have incurred under:

(1) Article 13, Section 1 of the Constitution of the State of Indiana;  and

(2) any statute imposing an assessed value limitation on the aggregate amount of bonds that a political subdivision may issue;

if property were assessed at thirty-three and one-third percent (33.33%) of true tax value.

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Cite this article: FindLaw.com - Indiana Code Title 36. Local Government § 36-1-15-2 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-36-local-government/in-code-sect-36-1-15-2/

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