§ 12-20-25-42 — Township certified as distressed before January 1, 1988; termination of controlled status; review and approval of civil and township assistance budgets; outstanding debt

Indiana § 12-20-25-42

• Jurisdiction: Indiana
• Art. 20: TOWNSHIP ASSISTANCE
• Ch. 25: Township Assistance in Distressed Townships

Text

(a) This section applies to a township that
was certified a distressed township before January 1, 1988.
(b) The controlled status of the distressed township is terminated on
July 1, 1989, if the department finds that the following conditions exist:
(1) All valid township assistance claims in the distressed
township, including the claims approved under IC 12-2-14-22
(before its repeal), IC 12-2-14-23 (before its repeal), or section 27
or 28 of this chapter, have been paid, except for the following:
(A) Claims under litigation before the date of the board's
finding.
(B) Obligations owed to other political subdivisions.
(2) The township has no bonds outstanding that were issued to
pay for township assistance in the distressed township.
(c) Notwithstanding section 4(2) of this chapter, if a township that
has had the township's distressed status terminated under subsection (b)
uses advances from the county from proceeds of bonds issued under IC 12-2-1 (before its repeal) or this article to pay township assistance
claims more than one (1) time in the five (5) years following the
termination of the township's distressed status, the township must have
the township's civil and township assistance budgets reviewed and
approved by the county fiscal body in each year that a tax is levied
against the property in the township to repay the advances. The
decision of the county fiscal body may be appealed to the department.
(d) Notwithstanding IC 12-2-5-6 (before its repeal), IC 12-2-5-8
(before its repeal), IC 12-20-23-15 (before its repeal), and IC 12-20-23-19 (before its repeal), the aggregate principal amount of any
outstanding debt that is incurred to pay township assistance claims
during the five (5) years following the termination of the township's
distressed status under subsection (b) and that is in excess of one-tenth
percent (0.1%) of the adjusted valued of taxable property in the
township as determined under IC 36-1-15 is the direct general
obligation of the county.
[Pre-1992 Revision Citation: 12-2-14-36.5.]

Legislative History

As added by P.L.2-1992, SEC.14. Amended by P.L.6-1997, SEC.148; P.L.90-2002, SEC.361; P.L.73-2005, SEC.140; P.L.169-2006, SEC.43.