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

Indiana § 36-9-37-44

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

Text

(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.

Legislative History

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