§ 13-18-8-3 — Issuance of bonds as direct obligation of municipal corporation

Indiana § 13-18-8-3

• Jurisdiction: Indiana
• Art. 18: WATER POLLUTION CONTROL
• Ch. 8: Compliance With Orders

Text

If the estimated cost of the steps necessary for
a municipal corporation to comply with a final order is great enough
that the bond issue necessary to finance the project would not raise the
total outstanding bonded indebtedness of the municipal corporation in
excess of the constitutional limit, the necessary bonds:
(1) may be issued as a direct obligation of the municipal
corporation; and
(2) may be retired by a general tax levy against all the property
within the limit of the municipal corporation listed and assessed
for taxation.
[Pre-1996 Recodification Citation: 13-1-3-12(b)
part.]

Legislative History

As added by P.L.1-1996, SEC.8.