Indiana § 36-9-36-60 Reduction of installments

Indiana Statutes

§ 36-9-36-60 — Reduction of installments

Indiana § 36-9-36-60

Title 36LOCAL GOVERNMENT

Art. 9TRANSPORTATION AND PUBLIC WORKS

Ch. 36Barrett Law Funding for Counties and Municipalities

This text of Indiana § 36-9-36-60 (Reduction of installments) 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 § 36-9-36-60 (2026).

Text

(a)A statement showing the amount of the reduction of the installments shall be certified to the disbursing officer if:

(1)the property is sold by the sheriff under this chapter and the money collected is insufficient to pay the principal and interest in full; or

(2)a court orders a reduction of principal and interest as assessed.

(b)Upon the receipt of the statement, the disbursing officer shall do the following:

(1)Calculate the reduction that applies to each installment.

(2)Enter on the bonds the amount of the reduction when the bonds are presented for payment.

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(a) A statement showing the amount of the
reduction of the installments shall be certified to the disbursing officer
if:
(1) the property is sold by the sheriff under this chapter and the
money collected is insufficient to pay the principal and interest in
full; or
(2) a court orders a reduction of principal and interest as assessed.
(b) Upon the receipt of the statement, the disbursing officer shall do
the following:
(1) Calculate the reduction that applies to each installment.
(2) Enter on the bonds the amount of the reduction when the
bonds are presented for payment.