Indiana § 36-7-15.6-19 Authorization to reimburse debt service payments on bonds made from
the unit's storm water fund

Indiana Statutes

§ 36-7-15.6-19 — Authorization to reimburse debt service payments on bonds made from the unit's storm water fund

Indiana § 36-7-15.6-19

Title 36LOCAL GOVERNMENT

Art. 7PLANNING AND DEVELOPMENT

Ch. 15.6Flood Control Improvement Districts

This text of Indiana § 36-7-15.6-19 (Authorization to reimburse debt service payments on bonds made from the unit's storm water fund) 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 § 36-7-15.6-19 (2026).

Text

(a)In lieu of issuing bonds under section 17 of this chapter, the fiscal body of the unit that established the commission may adopt an ordinance to authorize money in a flood control improvement fund of a district to be applied to reimburse debt service payments on bonds made from the unit's storm water fund if the following apply:

(1)The unit has issued bonds for which revenue from the unit's storm water fund is pledged or assigned.

(2)The bonds described in subdivision (1) were issued solely for the purpose of construction, replacement, repair, maintenance, or improvement of flood control works that are located within the district for which the flood control improvement fund was established.

(3)All money received from the bonds described in subdivision

(1)is applied solely to the pa

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(a) In lieu of issuing bonds under section
17 of this chapter, the fiscal body of the unit that established the
commission may adopt an ordinance to authorize money in a flood
control improvement fund of a district to be applied to reimburse debt
service payments on bonds made from the unit's storm water fund if the
following apply:
(1) The unit has issued bonds for which revenue from the unit's
storm water fund is pledged or assigned.
(2) The bonds described in subdivision (1) were issued solely for
the purpose of construction, replacement, repair, maintenance, or
improvement of flood control works that are located within the
district for which the flood control improvement fund was
established.
(3) All money received from the bonds described in subdivision
(1) is applied solely to the payment of costs of providing flood
control works located within the district for which the flood
control improvement fund was established.
(4) The bonds described in subdivision (1) must mature within
twenty-five (25) years.
(5) Money from the flood control improvement fund must be
applied only to reimburse debt service payments made on the
bonds described in subdivisions (1) through (4).
(b) Before adopting an ordinance under this section, the fiscal body
of the unit must hold at least one (1) public hearing at which testimony
about the adoption of the ordinance is allowed.
(c) No reimbursement payments may be made from the flood
control improvement fund under this section after the maturity date of
the bonds described in subsection (a).
(d) The fiscal body of the unit may not adopt an ordinance to
authorize money in the flood control improvement fund of a district to
be used for any other purposes not specified in this section.