Indiana § 36-9-37-44 Prepaid interest; reimbursement

Indiana Statutes

§ 36-9-37-44 — Prepaid interest; reimbursement

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

(a)If:

(1)a municipality purchased under threat of condemnation real property upon which there were any unpaid Barrett Law assessments; and

(2)because of the purchase the vendor paid, under protest, the interest on the Barrett Law assessment for a period of ten (10) years in advance; the vendor is entitled to a reimbursement for the interest paid in advance, less the interest for one (1) year.

(b)The vendor must present and prove a claim for the interest to the municipal fiscal officer. The reimbursement under this section shall be paid out of the surplus Barrett Law account of the municipality.

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(a) If:
(1) a municipality purchased under threat of condemnation real
property upon which there were any unpaid Barrett Law
assessments; and
(2) because of the purchase the vendor paid, under protest, the
interest on the Barrett Law assessment for a period of ten (10)
years in advance;
the vendor is entitled to a reimbursement for the interest paid in
advance, less the interest for one (1) year.
(b) The vendor must present and prove a claim for the interest to the
municipal fiscal officer. The reimbursement under this section shall be
paid out of the surplus Barrett Law account of the municipality.

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