§ 36-9-38-23 — Costs exceeding benefits; postponement of improvement; reappraisement; deficiency supplied; bond

Indiana § 36-9-38-23

• Jurisdiction: Indiana
• Title 36: LOCAL GOVERNMENT
• Art. 9: TRANSPORTATION AND PUBLIC WORKS
• Ch. 38: Barrett Law Funding for Municipal Improvement

Text

(a) If the total of the assessed benefits, after
deducting assessed damages, does not equal or exceed the total
estimated cost of the improvement, further action may not be taken on
the proposed improvement until:
(1) a second assessment of benefits and damages has been
completed; or
(2) the petitioners, the municipality, or another source, separately
or jointly, undertakes to provide the deficiency.
(b) The municipal works board may request the original appraisers
to make the second assessment or may appoint three (3) other qualified,
disinterested appraisers to make the second assessment. The second
assessment shall be completed in the same manner as the first
assessment.
(c) If a second assessment of benefits, after deducting the damages,
does not equal or exceed the estimated cost of the improvement, further
action may not be taken on the proposed improvement, unless the
petitioners, the municipality, or another source, separately or jointly,
undertakes to provide the deficiency. If the petitioners elect to provide
the deficiency, further action may not be taken upon the improvement
until the petitioners file with the works board a bond with adequate
surety. The bond must be conditioned on payment of the net balance of
the actual cost of the improvement over the total of the assessments
after deducting damages.

Legislative History

As added by P.L.98-1993, SEC.9.