§ 36-8-19-8.7 — Purchase of firefighting equipment on installment conditional sale or mortgage contract

Indiana § 36-8-19-8.7

• Jurisdiction: Indiana
• Title 36: LOCAL GOVERNMENT
• Art. 8: PUBLIC SAFETY
• Ch. 19: Fire Protection Territories

Text

7. After a sufficient appropriation for the
purchase of firefighting apparatus and equipment, including housing,
is made and is available, the participating units, with the approval of
the fiscal body of each participating unit, may purchase the firefighting
apparatus and equipment for the territory on an installment conditional
sale or mortgage contract running for a period not exceeding:
(1) six (6) years; or
(2) fifteen (15) years for a territory that:
(A) has a total assessed value of sixty million dollars
($60,000,000) or less, as determined by the department of local
government finance; and
(B) is purchasing the firefighting equipment with funding from
the:
(i) state or its instrumentalities; or
(ii) federal government or its instrumentalities.
The purchase shall be amortized in equal or approximately equal
installments payable on January 1 and July 1 each year.

Legislative History

As added by P.L.83-1998, SEC.4. Amended by P.L.90-2002, SEC.501; P.L.178-2002, SEC.135.