§ 36-9-37-22.5 — Preservation of assessment in default as a lien

Indiana § 36-9-37-22.5

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

Text

5. (a) The municipal fiscal officer and the
municipal works board may jointly establish procedures allowing a
municipality to avoid a sale, on property that is not delinquent for
property taxes, penalties, and other special assessments, that:
(1) is required under section 22 of this chapter; and
(2) would be conducted under IC 6-1.1-24;
by preserving an assessment that is in default as a lien against the
property on which the assessment was imposed. A lien created under
this section applies to the total assessment principal, interest, and
penalties owed by the property owner on the date on which the
municipality determines that the assessment is in default.
(b) Except as provided in subsection (c), an assessment preserved
as a lien under this section shall be paid by the person liable for the
assessment when ownership of the property is transferred.
(c) The following apply to an assessment preserved as a lien under
this section:
(1) Additional penalties do not accrue to the lien after the date
described in subsection (a).
(2) The procedures established under subsection (a) must specify
when additional interest shall accrue to the lien after the date
described in subsection (a).
(3) The lien must be recorded.
(4) The amount owed by the property owner must be paid by the
person liable for the assessment before the final bond maturity
date.
(d) When the person liable pays an assessment preserved as a lien
under this section, the proceeds of the collection are subject to the same
requirements as the proceeds of a sale conducted under section 24 of
this chapter.

Legislative History

As added by P.L.45-2004, SEC.4.