Indiana Statutes

§ 12-20-24-8 — Tax levy

Indiana·Art. 20 TOWNSHIP ASSISTANCE·Ch. 24 Township Borrowing for Township Assistance
(a)If a township board:
(1)appeals before August 1 for permission to borrow money;
(2)receives permission from:
(A)the board of commissioners or the county council, before July 1, 2006; or
(B)the department; to borrow money before November 1 of that year; and
(3)borrows money under this chapter; the township board shall levy a property tax beginning in the next succeeding year and continuing for the term of the loan in an amount each year that will be sufficient to pay the principal and interest due on the loan for the year.
(b)If a township board:
(1)appeals after August 1 for permission to borrow money;
(2)receives permission from:
(A)the board of commissioners or the county council, before July 1, 2006; or
(B)the department; to borrow money; and
(3)borrows money in the year

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Legislative History

As added by P.L.2-1992, SEC.14. Amended by P.L.101-2000, SEC.10; P.L.90-2002, SEC.355; P.L.169-2006, SEC.40.

Nearby Sections

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