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Indiana Code Title 36. Local Government § 36-9-36-60

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

Sec. 60. (a) A statement showing the amount of the reduction of the installments shall be certified to the disbursing officer if:

(1) the property is sold by the sheriff under this chapter and the money collected is insufficient to pay the principal and interest in full;  or

(2) a court orders a reduction of principal and interest as assessed.

(b) Upon the receipt of the statement, the disbursing officer shall do the following:

(1) Calculate the reduction that applies to each installment.

(2) Enter on the bonds the amount of the reduction when the bonds are presented for payment.

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Cite this article: FindLaw.com - Indiana Code Title 36. Local Government § 36-9-36-60 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-36-local-government/in-code-sect-36-9-36-60/

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