§ 36-9-27-43 — Omission of annual assessment

(a) If in any year a maintenance fund
established under section 44 of this chapter has an unencumbered
balance equal to or greater than four (4) times the estimated annual cost
of periodically maintaining the drain for which the fund was
established, the annual assessment for the maintenance of that drain
may be omitted for that year.
(b) The county drainage board may collect the drain assessment
even though the unencumbered balance of the maintenance fund is
equal to or greater than four (4) times the estimated annual cost of
periodic maintenance of the drain for which the fund was established
if the drainage board does the following:
(1) Conducts a public hearing in accordance with section 40 of
this chapter.
(2) At the public hearing estimates what the unencumbered
balance of the maintenance fund would be, as a multiple of the
estimated annual cost of periodic maintenance of the drain, after
the collection of the total amount that the board intends to collect
in assessments.
However, the annual assessment for the maintenance of the drain shall
be omitted if, according to the estimate of the board, the collection of
the intended total amount of assessments would increase the
unencumbered balance of the maintenance fund to equal or exceed
eight (8) times the estimated annual cost of periodic maintenance of the
drain for which the fund was established.
[Pre-Local Government Recodification Citation: 19-4-4-8
part.]
As added by Acts 1981, P.L.309, SEC.101. Amended by
P.L.276-2001, SEC.13.