Indiana § 14-33-21-14 Discharge of obligation

Indiana Statutes

§ 14-33-21-14 — Discharge of obligation

Indiana·Art. 33 CONSERVANCY DISTRICTS·Ch. 21 Cumulative Improvement Fund

If a federal or state agency, according to statute or contractual obligation, demands immediate or prompt action by the district in construction of, adding to, or repairing works of improvement, the district:

(1)may not defend that not enough money for the work has accumulated in the fund; and

(2)shall use the accumulation of money in the fund, including the proceeds of:

(A)borrowing;

(B)the collection of tax or assessments; or

(C)both borrowing and the collection of tax or assessments; to discharge the obligation. [Pre-1995 Recodification Citation: 13-3-5-9.]

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If a federal or state agency, according to
statute or contractual obligation, demands immediate or prompt action
by the district in construction of, adding to, or repairing works of
improvement, the district:
(1) may not defend that not enough money for the work has
accumulated in the fund; and
(2) shall use the accumulation of money in the fund, including the
proceeds of:
(A) borrowing;
(B) the collection of tax or assessments; or
(C) both borrowing and the collection of tax or assessments;
to discharge the obligation.
[Pre-1995 Recodification Citation: 13-3-5-9.]

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