Indiana § 36-9-37-20 Collection of delinquent assessments; interest penalties

Indiana Statutes

§ 36-9-37-20 — Collection of delinquent assessments; interest penalties

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

(a)If any principal and interest, or an installment of principal and interest, is not paid in full when due, the municipal fiscal officer shall enforce payment of the following:

(1)The unpaid amount of principal and interest.

(2)A penalty of interest at the rate prescribed by subsection (b).

(b)If payment is made after a default, the municipal fiscal officer shall also collect a penalty of interest on the delinquent amount at one-half (1/2) the rate prescribed by IC 6-1.1-37-9(b) for each six (6) month period, or fraction of a six (6) month period, from the date when payment should have been made.

Free access — add to your briefcase to read the full text and ask questions with AI

(a) If any principal and interest, or an
installment of principal and interest, is not paid in full when due, the
municipal fiscal officer shall enforce payment of the following:
(1) The unpaid amount of principal and interest.
(2) A penalty of interest at the rate prescribed by subsection (b).
(b) If payment is made after a default, the municipal fiscal officer
shall also collect a penalty of interest on the delinquent amount at
one-half (1/2) the rate prescribed by IC 6-1.1-37-9(b) for each six (6)
month period, or fraction of a six (6) month period, from the date when
payment should have been made.

Indiana § 36-9-37-20 (Collection of delinquent assessments; interest penalties) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.