Indiana Statutes
§ 5-1-13-3 — Income from investment of proceeds of sale of bonds; application
Indiana § 5-1-13-3
JurisdictionIndiana
Title 5STATE AND LOCAL ADMINISTRATION
Art. 1BONDS AND OTHER OBLIGATIONS
Ch. 13Disposition of Surplus Bond Proceeds
This text of Indiana § 5-1-13-3 (Income from investment of proceeds of sale of bonds; application) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Ind. Code § 5-1-13-3 (2026).
Text
Notwithstanding any other law, income from the
investment of proceeds of the sale of bonds issued by any political
subdivision that are payable from property taxes shall be applied to the
improvement or the public purpose for which the bonds were issued or
shall be used to pay interest on the bonds and in no event may such
income be used for any other purpose except as provided in section 2
of this chapter.
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Legislative History
As added by P.L.24-1984, SEC.3.
Nearby Sections
15
§ 5-1-1-1
Validation§ 5-1-1-2
Repealed§ 5-1-10-1
Issuance; purpose; restrictions§ 5-1-11-7
Restrictions on powers§ 5-1-11.5-1
"ADM"§ 5-1-11.5-2
"Bonds"§ 5-1-11.5-3
Application to certain school corporations§ 5-1-12-1
"Municipal corporation" definedCite This Page — Counsel Stack
Bluebook (online)
Indiana § 5-1-13-3, Counsel Stack Legal Research, https://law.counselstack.com/statute/in/5-1-13-3.