§ 36-9-37-13 — Payment of assessment in installments; proceeds; special fund

Indiana § 36-9-37-13

• Jurisdiction: Indiana
• Title 36: LOCAL GOVERNMENT
• Art. 9: TRANSPORTATION AND PUBLIC WORKS
• Ch. 37: Barrett Law Funding for Municipalities

Text

Proceeds from assessments for the payment
of a particular improvement may not be used for the payment of other
improvements. The proceeds from assessments for the payment of a
particular improvement constitute a special fund for the following:
(1) Payment of contractors for the particular improvement if
allowance of the estimates has been made by the works board of
the municipality.
(2) Security and payment of bonds issued in anticipation of the
collection of the assessments for the improvements, including
debt service reserves to secure the payment of the bonds.
(3) Payment of expenses incurred by the municipal fiscal officer
in performing the municipality's duties under this chapter, IC 36-9-36, IC 36-9-38, or IC 36-9-39 (or under IC 36-9-18 through
IC 36-9-21, before the repeal of those provisions in 1993),
including any expenses, duties, and costs associated with the
issuance, sale, or payment of the bonds.

Legislative History

As added by P.L.98-1993, SEC.8.