Indiana § 36-9-36-9.5 Assessments; installment payments

Indiana Statutes

§ 36-9-36-9.5 — Assessments; installment payments

Indiana § 36-9-36-9.5

Title 36LOCAL GOVERNMENT

Art. 9TRANSPORTATION AND PUBLIC WORKS

Ch. 36Barrett Law Funding for Counties and Municipalities

This text of Indiana § 36-9-36-9.5 (Assessments; installment payments) 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 § 36-9-36-9.5 (2026).

Text

5.

(a)With respect to assessments imposed after June 30, 2001, the works board shall establish a procedure to permit owners of real property in the unit to elect whether to pay assessments in:

(1)ten (10), twenty (20), or thirty (30) annual installments; or

(2)a number of monthly installments that corresponds to ten (10), twenty (20), or thirty (30) annual installments.

(b)The works board shall establish the timing of the election under subsection (a) to permit the works board to structure the maturities of the principal of the bonds in a number of annual series that is consistent with the installment periods elected by owners of real property under subsection (a).

(c)A person who elects to pay the person's assessment in installments under this section must, when directed by the works

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5. (a) With respect to assessments imposed
after June 30, 2001, the works board shall establish a procedure to
permit owners of real property in the unit to elect whether to pay
assessments in:
(1) ten (10), twenty (20), or thirty (30) annual installments; or
(2) a number of monthly installments that corresponds to ten (10),
twenty (20), or thirty (30) annual installments.
(b) The works board shall establish the timing of the election under
subsection (a) to permit the works board to structure the maturities of
the principal of the bonds in a number of annual series that is
consistent with the installment periods elected by owners of real
property under subsection (a).
(c) A person who elects to pay the person's assessment in
installments under this section must, when directed by the works board,
enter into a written agreement stating that in consideration of that
privilege the person:
(1) will not make an objection to an illegality or irregularity
regarding the assessment against the person's property; and
(2) will pay the assessment as required by law with specified
interest.
(d) The agreement under subsection (c) shall be filed in the office
of the disbursing officer.
(e) The interest rate specified for the installments of the assessment
may be equal to or greater than the interest rate on bonds issued under
section 44 of this chapter.
(f) An assessment of less than one hundred dollars ($100) may not
be paid in installments.