§ 36-9-38-23.5 — Assessments; installment payments

Indiana § 36-9-38-23.5

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

Text

5. (a) With respect to assessments imposed
after June 30, 2001, the works board shall establish a procedure to
permit owners of real property in the improvement district to elect
whether to pay assessments in:
(1) one (1), five (5), ten (10), fifteen (15), or twenty (20) annual
installments; or
(2) a number of monthly installments that corresponds to one (1),
five (5), ten (10), fifteen (15), or twenty (20) installments.
(b) The works board shall establish the timing of the election under
subsection (a) to permit the works board to structure the maturities of
the principal of the bonds in a number of annual series that is
consistent with the installment periods elected by owners of real
property under subsection (a).

Legislative History

As added by P.L.62-2001, SEC.8.