Indiana Statutes
§ 36-1-15-7 — Permitted excess of debt limitation
A political subdivision may incur debt that exceeds the maximum amount allowed under section 6 of this chapter as necessary for the public protection and defense only:
(1)in time of war, foreign invasion, or other great public
calamity; and
(2)upon petition of a majority of the property owners in number
and value within the limits of the political subdivision.
The amount of the excess may not be greater than the amount specified
in the petition.
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Indiana § 36-1-15-7 (Permitted excess of debt limitation) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
As added by P.L.6-1997, SEC.203.
Nearby Sections
15
§ 36-1-10-1
Application of chapter§ 36-1-10-10
Plans, specifications, and estimates for structures, systems, and
transportation projects§ 36-1-10-11
Property held in fee simple; sale procedure§ 36-1-10-12
Lease in anticipation of acquisition or construction of structure, system,
or transportation project§ 36-1-10-13
Hearing; procedure; execution of lease§ 36-1-10-17
Annual appropriation and tax levy§ 36-1-10-18
Tax exemption of leased structures, systems, and transportation
projects; taxation of rental paid lessor§ 36-1-10-19
Assignment or conveyance of lease; conveyance of structure, system,
or transportation project§ 36-1-10-2
Definitions§ 36-1-10-20
Repealed