Indiana Code Title 36. Local Government § 36-9-36-62

Sec. 62. (a) A difference between the total assessments for an improvement and the contract price of the improvement shall be paid by the unit.

(b) The unit's part of the cost of an improvement shall, if possible, be paid from the general fund of the unit.  If payment from the unit's general fund is not possible, the unit may issue bonds or certificates of indebtedness to the contractor for the amount of the unit's part of the cost.  The unit's fiscal officer shall issue the bonds or certificates and shall fix the denominations of the bonds or certificates at the time of the approval of the final assessment roll and at the time of a subsequent reduction of assessments on appeal.

(c) The certificates of indebtedness issued under this section (or under IC 36-9-18 before its repeal in 1993) entitle the contractor to the amounts the certificates specify when a fund for redemption of the certificates has been provided.

(d) The certificates of indebtedness are negotiable instruments and bear interest from the date of the final acceptance of the work.