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Indiana Code Title 36. Local Government § 36-9-28-9

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

Sec. 9. (a) If the financing for a project under this chapter is to be provided by the federal government, one (1) or more bonds may be issued at any time after the filing of the assessment roll with the court under section 6 of this chapter.

(b) Bonds issued under this section are payable solely from:

(1) the assessments made or to be made against the property benefited;  or

(2) the money appropriated for that purpose by the municipality;

and are not a general obligation of the municipality.

(c) Notwithstanding any other law, a financing agreement with the federal government may provide that a municipal ordinance may determine:

(1) the interest rate or rates on the bonds and the assessments;

(2) the time or times of maturities or of principal and assessment payments;

(3) the terms, if any, for redemption of the bonds;

(4) the medium and the place or places for payment of the bonds, including payment by mail to an owner of any fully registered bond;  and

(5) any other necessary terms and conditions.

(d) Bonds issued under this section need not be advertised for public sale.

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Cite this article: FindLaw.com - Indiana Code Title 36. Local Government § 36-9-28-9 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-36-local-government/in-code-sect-36-9-28-9/

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