Indiana § 36-9-37-12 Payment of assessment in deferred installments; time for making
payments

Indiana Statutes

§ 36-9-37-12 — Payment of assessment in deferred installments; time for making payments

Indiana § 36-9-37-12

Title 36LOCAL GOVERNMENT

Art. 9TRANSPORTATION AND PUBLIC WORKS

Ch. 37Barrett Law Funding for Municipalities

This text of Indiana § 36-9-37-12 (Payment of assessment in deferred installments; time for making 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 § 36-9-37-12 (2026).

Text

(a)If a property owner has elected to pay the property owner's assessment in installments and the assessment roll for the cost of the improvement was finally approved before July 1 of a year, the first installment of the principal of the assessment, together with accrued interest, is payable on November 10 of that year.

(b)If a property owner has elected to pay the property owner's assessment in installments and the assessment roll for the cost of the improvement was finally approved after June 30 of a year, the first installment of the principal of the assessment, together with accrued interest, is payable on May 10 of the following year.

(c)Subsequent installments of principal and interest are payable at:

(1)one (1) year intervals after the date of payment of the first installment un

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(a) If a property owner has elected to pay the
property owner's assessment in installments and the assessment roll for
the cost of the improvement was finally approved before July 1 of a
year, the first installment of the principal of the assessment, together
with accrued interest, is payable on November 10 of that year.
(b) If a property owner has elected to pay the property owner's
assessment in installments and the assessment roll for the cost of the
improvement was finally approved after June 30 of a year, the first
installment of the principal of the assessment, together with accrued
interest, is payable on May 10 of the following year.
(c) Subsequent installments of principal and interest are payable at:
(1) one (1) year intervals after the date of payment of the first
installment under subsection (a) or (b) if the property owner
elected annual payments; or
(2) one (1) month intervals after the date of payment of the first
installment under subsection (a) or (b) if the property owner
elected monthly payments.
(d) This subsection applies if the property owner elected annual
installment payments. With the first installment of principal, and
interest to the first bond maturity date, an amount sufficient to cover six
(6) months interest in advance on the assessment shall also be
collected. With each succeeding installment of principal, except the
last installment, six (6) months interest shall be collected in advance,
so that only one (1) annual payment is made by the property owner on
the assessment.
(e) This subsection applies if the property owner elected monthly
installment payments. With each of the first six (6) installments of
principal, and interest to the first bond maturity date, an amount
sufficient to cover one (1) additional month's interest in advance on the
assessment shall also be collected. With each succeeding installment
of principal, except the last six (6) installments, one (1) month's interest
shall be collected in advance.