§ 20-48-4-8 — Powers; issuance of bonds

Indiana § 20-48-4-8

• Jurisdiction: Indiana
• Title 20: EDUCATION
• Art. 48: BORROWING AND BONDS
• Ch. 4: Township School Building

Text

(a) Upon approval by the department of local
government finance (if required under section 6 of this chapter), the
township trustee may, with the consent of the township board, issue
and sell the bonds of the civil township in an amount sufficient to pay
for the alteration, construction, or addition described in section 6 of this
chapter.
(b) The trustee may levy a tax on the taxable property of the
township in an amount sufficient to discharge the bonds issued and
sold. The bonds may not bear a maturity date more than twenty (20)
years from the date of issue.
[Pre-2006 Recodification Citation: 21-2-3.2-4.]

Legislative History

As added by P.L.2-2006, SEC.171. Amended by P.L.146-2008, SEC.527.