Indiana § 36-1-15-2 Legislative intent

Indiana Statutes

§ 36-1-15-2 — Legislative intent

Indiana·Title 36 LOCAL GOVERNMENT·Art. 1 GENERAL PROVISIONS·Ch. 15 Debt Limitation

It is the intent of the general assembly that the amount of debt incurred by a political subdivision after February 28, 2001, not exceed, in the aggregate, the amount of debt that the political subdivision could have incurred under:

(1)Article 13, Section 1 of the Constitution of the State of Indiana; and

(2)any statute imposing an assessed value limitation on the aggregate amount of bonds that a political subdivision may issue; if property were assessed at thirty-three and one-third percent (33.33%) of true tax value.

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It is the intent of the general assembly that the
amount of debt incurred by a political subdivision after February 28,
2001, not exceed, in the aggregate, the amount of debt that the political
subdivision could have incurred under:
(1) Article 13, Section 1 of the Constitution of the State of
Indiana; and
(2) any statute imposing an assessed value limitation on the
aggregate amount of bonds that a political subdivision may issue;
if property were assessed at thirty-three and one-third percent (33.33%)
of true tax value.

Indiana § 36-1-15-2 (Legislative intent) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.