Indiana § 36-9-41-5 Payments

Indiana Statutes

§ 36-9-41-5 — Payments

Indiana·Title 36 LOCAL GOVERNMENT·Art. 9 TRANSPORTATION AND PUBLIC WORKS·Ch. 41 Financing of Public Work Projects by Political

(a)The political subdivision shall appropriate an amount for and levy a tax each year sufficient to pay the political subdivision's obligation under the note according to its terms.

(b)An obligation of a political subdivision under a note executed under this chapter is a valid and binding obligation of the political subdivision, notwithstanding any tax limitation, debt limitation, bonding limitation, borrowing limitation, or other statute to the contrary.

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(a) The political subdivision shall appropriate
an amount for and levy a tax each year sufficient to pay the political
subdivision's obligation under the note according to its terms.
(b) An obligation of a political subdivision under a note executed
under this chapter is a valid and binding obligation of the political
subdivision, notwithstanding any tax limitation, debt limitation,
bonding limitation, borrowing limitation, or other statute to the
contrary.

Indiana § 36-9-41-5 (Payments) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.