Indiana § 36-1-15-7 Permitted excess of debt limitation

Indiana Statutes

§ 36-1-15-7 — Permitted excess of debt limitation

Indiana § 36-1-15-7

Title 36LOCAL GOVERNMENT

Art. 1GENERAL PROVISIONS

Ch. 15Debt Limitation

This text of Indiana § 36-1-15-7 (Permitted excess of debt limitation) 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 § 36-1-15-7 (2026).

Text

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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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.