§ 5-1-14-1 — Bonds, notes, or warrants not subject to maximum interest rate limitations

(a) Any bonds, notes, or warrants, whether
payable from property taxes, revenues, or any other source, are not
subject to the maximum interest rate limitations contained in any law
enacted before December 31, 1982, if they are issued by or in the name
of any entity named in IC 5-1-1-1.
(b) After July 1, 1979, any bond, coupon, certificate of
indebtedness, or installment payment payable by a city, town, or
property holder for public improvements under the Barrett Law is not
subject to any maximum interest rate limitation. This subsection does
not apply to interest rates or penalties on delinquencies provided under
the Barrett Law.
(c) This section does not limit an interest rate review conducted by
the department of local government finance under IC 6-1.1-20-7.
[Pre-Local Government Recodification Citation:
6-1.1-20-8.]
As added by Acts 1980, P.L.8, SEC.25. Amended by
P.L.44-1983, SEC.6; P.L.90-2002, SEC.12.