Indiana § 5-1-14-8 Money withheld by state comptroller as not creating debt for
constitutional purposes

Indiana Statutes

§ 5-1-14-8 — Money withheld by state comptroller as not creating debt for constitutional purposes

Indiana § 5-1-14-8

Title 5STATE AND LOCAL ADMINISTRATION

Art. 1BONDS AND OTHER OBLIGATIONS

Ch. 14Miscellaneous Provisions

This text of Indiana § 5-1-14-8 (Money withheld by state comptroller as not creating debt for constitutional purposes) 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 § 5-1-14-8 (2026).

Text

If a statute provides that amounts due under a
loan to a political subdivision (as defined in IC 36-1-2) or a local public
improvement bond bank shall or may be withheld by the state
comptroller from other money payable to the political subdivision or
bond bank upon failure to make repayment of the loan, the requirement
or permission to withhold amounts due under the loan does not create
a debt of the political subdivision for purposes of the Constitution of
the State of Indiana.

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If a statute provides that amounts due under a
loan to a political subdivision (as defined in IC 36-1-2) or a local public
improvement bond bank shall or may be withheld by the state
comptroller from other money payable to the political subdivision or
bond bank upon failure to make repayment of the loan, the requirement
or permission to withhold amounts due under the loan does not create
a debt of the political subdivision for purposes of the Constitution of
the State of Indiana.