§ 5-1-18-9 — Bonds or leases outstanding; annual summary; annual verification

Indiana § 5-1-18-9

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 1: BONDS AND OTHER OBLIGATIONS
• Ch. 18: Reports Concerning Bonds and Leases of Political

Text

(a) This subsection applies to reporting that
occurs before January 1, 2013. Each political subdivision that has any
outstanding bonds or leases shall submit a report to the department
before March 1 of 2006 and each year thereafter that includes a
summary of all the outstanding bonds of the political subdivision as of
January 1 of that year. The report must:
(1) distinguish the outstanding bond issues and leases on the basis
of the type of bond or lease, as determined by the department;
(2) include a comparison of the political subdivision's outstanding
indebtedness compared to any applicable statutory or
constitutional limitations on indebtedness;
(3) include other information as required by the department; and
(4) be submitted on a form prescribed by the department or
through the Internet or other electronic means, as determined by
the department.
(b) This subsection applies to reporting that occurs after December
31, 2012. The department may annually require each political
subdivision to verify to the department that the list of indebtedness and
related details in the department's database are current and accurate.

Legislative History

As added by P.L.199-2005, SEC.2. Amended by P.L.137-2012, SEC.7.