Indiana § 16-23-1-24 Loans in anticipation of taxes

Indiana Statutes

§ 16-23-1-24 — Loans in anticipation of taxes

Indiana § 16-23-1-24

Title 16HEALTH

Art. 23MUNICIPAL AND OTHER TYPES OF

Ch. 1City Hospitals in Third Class Cities

This text of Indiana § 16-23-1-24 (Loans in anticipation of taxes) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 16-23-1-24 (2026).

Text

(a)If the city fiscal body authorizes the borrowing by ordinance, the board of directors may borrow money by negotiating a temporary loan in anticipation of taxes already levied and in process of collection or distribution in the current year.

(b)The notes, warrants, or other evidences of indebtedness must:

(1)be executed by the city executive and attested by the clerk-treasurer; and

(2)be payable not later than the end of the calendar year in which the auditor of the county or the clerk-treasurer of the city will collect and distribute the taxes in anticipation of which the temporary loan is made and the money borrowed. [Pre-1993 Recodification Citation: 16-12.2-5-15.]

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(a) If the city fiscal body authorizes the
borrowing by ordinance, the board of directors may borrow money by
negotiating a temporary loan in anticipation of taxes already levied and
in process of collection or distribution in the current year.
(b) The notes, warrants, or other evidences of indebtedness must:
(1) be executed by the city executive and attested by the
clerk-treasurer; and
(2) be payable not later than the end of the calendar year in which
the auditor of the county or the clerk-treasurer of the city will
collect and distribute the taxes in anticipation of which the
temporary loan is made and the money borrowed.
[Pre-1993 Recodification Citation: 16-12.2-5-15.]