§ 36-9-28-9 — Bonds; issuance; payments; financing agreement; public sale

Indiana § 36-9-28-9

• Jurisdiction: Indiana
• Title 36: LOCAL GOVERNMENT
• Art. 9: TRANSPORTATION AND PUBLIC WORKS
• Ch. 28: Certain Watercourse, Levee, Sewer, and Drain

Text

(a) If the financing for a project under this
chapter is to be provided by the federal government, one (1) or more
bonds may be issued at any time after the filing of the assessment roll
with the court under section 6 of this chapter.
(b) Bonds issued under this section are payable solely from:
(1) the assessments made or to be made against the property
benefited; or
(2) the money appropriated for that purpose by the municipality;
and are not a general obligation of the municipality.
(c) Notwithstanding any other law, a financing agreement with the
federal government may provide that a municipal ordinance may
determine:
(1) the interest rate or rates on the bonds and the assessments;
(2) the time or times of maturities or of principal and assessment
payments;
(3) the terms, if any, for redemption of the bonds;
(4) the medium and the place or places for payment of the bonds,
including payment by mail to an owner of any fully registered
bond; and
(5) any other necessary terms and conditions.
(d) Bonds issued under this section need not be advertised for public
sale.
[Pre-Local Government Recodification Citation: 19-4-20-9
part.]
As added by Acts 1981, P.L.309, SEC.104. Amended by
P.L.84-2016, SEC.189.